Accounting

Bookkeeping for Foreign-Owned Companies in China

Bookkeeping for foreign companies in China
Effective financial management

Well-trusted Accounting Solution

While China's accounting standards may differ from your home country's, you don't have to lose sleep over daily bookkeeping compliance for your company in China.

Asomerit and our experienced accountants take over full responsibility for your books and taxes so you can focus on what truly matters: growing your business, not financial compliance!

Asomerit's China Work Visa Services

 

Why Bookkeeping is Important to Your Company

Bookkeeping is about collecting and recording the financial transactions to monitor and analyze your business performance. By gathering your financial documents including bills, receipts, invoices (or fapiaos in China), and purchase orders, you can generate accurate financial records, which will also be helpful for tax reporting and annual audit.

Services Included in Asomerit's Bookkeeping

Part 1: Daily Recording

  • Collecting and organizing financial documents
  • Archiving both electronic and paper invoices (fapiao) in parallel
  • Organizing enterprise account transactions
  • Flagging unbalanced accounts with discrepancy alerts

Part 2: Tax Reporting

  • Monthly/quarterly VAT filing and annual consolidated VAT declaration
  • Quarterly/annual CIT declaration
  • Monthly IIT filing and special additional deductions declaration
  • Stamp tax/surtaxes compliance-based declaration

Part 3: Invoice (Fapiao) Management

  • Electronic fapiao issuance
  • Pre-tax cost invoice verification for CIT deductions

Part 4: Social Insurance & Housing Fund

  • Recommend base calculation using prior year's wage data
  • Monthly contribution computation with detailed statements
  • Monthly submission before deadline
Benefits of Asomerit's Bookkeeping

For foreign investors in China—especially startup and small business owners—hiring an in-house accountant for daily bookkeeping can be costly. Outsourcing to Asomerit offers an ideal solution to save both time and budget. Here’s why

Experienced Bookkeepers 

Asomerit's team streamlines your bookkeeping with deep knowledge of China’s Golden Tax System and CAS (Chinese Accounting Standards). Why manage it yourself when professionals ensure error-free compliance?

Time and Energy Saved Operation

By integrating state-of-the-art bookkeeping software, we can auto-capture invoices upon issuance—eliminating loss risks. You only need to share monthly bank statements digitally-that's all, nothing more.

Always Compliant

The only thing you need to remember? Your operations meet compliance requirements at all times. From day one, your books are meticulously organized.

Asomerit's Bookkeeping Packages

Starter

Ideal for start-ups that are just about to absorb clients and earning profits.


  • Free Initial Consultation
  • Value-added Tax Reporting
  • Individual Income Tax Reporting
  • Payroll Setup for 1 employee
  • Social Insurance for 1 employee
  • Issuing Invoices (≤2 pieces/month)

From $60/month

Standard

For companies who has established stable channel of monthly incomes.


  • Free Initial Consultation
  • Value-added Tax Reporting
  • Individual Income Tax Reporting
  • Payroll Setup for ≤3 employees
  • Social Insurance for ≤3 employees
  • Corporate Income Tax Reporting
  • Issuing Invoices (≤5 pieces/month)
  • Dedicated Accountant

From $90/month

Advanced

For small-scale tax payers with high revenue or general tax payers.


  • Free Consultation
  • Value-added Tax Reporting
  • Individual Income Tax Reporting
  • Payroll Setup for over 4 employees
  • Social Insurance for over 4 employees
  • Corporate Income Tax Reporting
  • Stamp tax/surtaxes Reporting
  • Issuing Invoices for over 5 pieces/month
  • Dedicated Accountant

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FAQs

Frequently Asked Questions

You have Questions, and Asomerit has Answers. If we don't cover all your confusions, just let us know!

Even if your newly established company has no business activity, monthly tax filing is still legally mandatory in China. You must submit 'Zero Declaration' returns for Value-Added Tax (VAT) by the 15th of each month.

The distinction hinges on annual revenue and tax treatment. Small-scale taxpayers generate under ¥5 million yearly and apply a flat 3% VAT rate without input tax credits, while general taxpayers exceed this threshold and qualify for tiered VAT rates (6%/9%/13%) with full input deduction rights.

 IIT applies a progressive formula: first, subtract statutory social insurance contributions and eligible deductions (e.g., children’s education or housing loans) from gross salary to determine taxable income. Rates then escalate from 3% (for monthly income between ¥5,000-8,000) to a maximum of 45%, with expatriates enjoying tax-exempt allowances covering up to 50% of salary for housing, education, or relocation.

A fapiao is the exclusive legal proof for business expense deductions under China’s Invoice Regulations. Critical types include VAT special invoices for input tax credits and fully digitized e-fapiaos issued through the Golden Tax System IV since 2024. Each fapiao bears unique identifiers – a 12-digit invoice code, 8-digit serial number, and the seller’s 18-digit tax ID.

Our pricing considers three primary factors: your enterprise’s taxpayer classification (small-scale or general taxpayer), monthly transaction volume such as processed invoices, and specialized requirements like cross-border tax filings.

Testimonials

What Our Clients Say

David Coyle

Asomerit's team provided exceptional support throughout my China work visa application. Their highly responsive and responsible approach ensured all my questions were addressed promptly, making an otherwise complex process remarkably smooth.

Elizabeth Young

I couldn't be more satisfied with Asomerit's work visa services. Their comprehensive document checklist and preparation guide made every requirement clear and easy to understand. I simply followed their step-by-step process without needing to worry about anything else. Thanks to their efficient handling, I secured my visa much faster than anticipated – even allowing me to save significantly by booking flights early!

Yamaguchi Akisato

I got a job with a Chinese company in Shanghai, but bringing my wife and daughters with me was very difficult. Asomerit has helped with our visa applications—both for me and my family. Their warm attitude and knowledge turned everything into a pleasant experience!

Need more information or help?

Contact Asomerit today to get fully-guided and hassle-free WFOE formation services.