Beneficial owners — 30 days for changes
Since November 2024, companies report their ultimate beneficial owners through the registration system — this information is not made public. If they change, there are 30 days to file the new details; failing to correct inaccurate data — a fine of up to RMB 50,000.
Business Support in the UAE and Abroad
A company in mainland China reports every month or quarter — even with no revenue: VAT, corporate income tax prepayment, tax on salaries. Once a year — the corporate income tax reconciliation and the annual report. We bring in an accountant, track the deadlines and help keep the company’s seals and access credentials in order.
In short
A mainland China company reports even with no revenue: returns within 15 days after each month or quarter, the annual corporate income tax reconciliation by 31 May, the annual report by 30 June. A registered address costs from €1,440 a year; we quote the accountant’s fee after reviewing your transactions.
Checked 18 October 2026 · Kermen Tserenkeeva
Cost of a mistake
Up to 5× the tax
The penalty for unpaid tax where no return was filed: from 50% to five times the tax — amounts under PRC law as of October 2026.
How to avoid itA Chinese company runs on a tax calendar: returns every month or quarter, books in Chinese, and contracts and banking that depend on seals. The head of the company is responsible for the accuracy of the accounts.
Books in Chinese
Records are kept in Chinese; a foreign-invested company may keep them in one foreign language in parallel. The books are kept by the company’s own accountant or a licensed bookkeeping firm.
There are no “empty” months
VAT and corporate income tax prepayment are declared within 15 days after the month or quarter, tax on salaries — by the 15th. With no revenue — nil returns.
Fapiao are electronic
Since 1 December 2024, fully digital fapiao are issued nationwide. They carry a digital signature — no fapiao seal is stamped on them.
A seal is a signature
A contract is concluded once it bears the parties’ signatures or seals. That is why it matters who keeps the company’s seals.
Expert tip
Agree with your accountant on a day each month by which you send documents and bank statements. Then returns go out calmly rather than on the last of the 15 days.
Kermen TserenkeevaSenior Lawyer · Company registrationSituations
Typical situations
Similar, but different
Company calendar
The financial year in China is the calendar year. Penalty amounts — under PRC law as of October 2026: the authority usually first orders the breach to be corrected, and the fine depends on how serious it is.
31 May
The previous year’s result is reconciled with the prepayments, and the annual return and financial statements are filed — even with a loss.
If missed: up to RMB 2,000, in serious cases RMB 2,000–10,000; for late payment — 0.05% per day, for unpaid tax without a return — from 50% to five times the tax
30 June
A single filing for the previous year in the information publicity system: it is also the foreign investment report and the data for foreign exchange control.
If missed: abnormal operations list; if investment information is not corrected within 20 working days of an order — RMB 100,000–500,000
Every month or quarter
15 days after the period
VAT and local surcharges
The tax office sets the period: monthly under the general regime, quarterly for small-scale taxpayers. The return is filed even with zero revenue.
If missed: up to RMB 2,000, in serious cases RMB 2,000–10,000; for late payment — 0.05% per day
15 days after the period
Corporate income tax prepayment
Together with the return — the financial statements for the period.
By the 15th of the following month
Tax on salaries
The company withholds tax from payments to employees, remits it and files a report on each recipient.
Every month
Social insurance and housing fund
Contributions for employees; the base depends on the city.
If missed: social insurance: 0.05% per day, then a fine of 1–3 times the arrears; housing fund — recovery through the court
Ongoing
Retention periods
Keeping the records
Tax documents — at least 10 years; source documents and ledgers under the accounting archive rules — 30 years, annual financial statements — permanently.
Before paying dividends
Reserve fund and taxes
Prior-year losses are covered first, then 10% of profit goes to the reserve fund until it reaches 50% of capital. For a dividend transfer above USD 50,000, the bank checks the distribution resolution, tax documents and audited statements.
On event
30 days after the decision
Registration of changes
Legal representative, shareholders, capital, business scope; a new address — before moving, a capital reduction — after a 45-day public notice.
If missed: if not corrected when ordered — RMB 10,000–100,000; in serious cases — revocation of the licence
30 days after the change
Beneficial owners
New details — through the registration system. If the shareholder is a company, there is no exemption from filing.
If missed: inaccurate details not corrected — up to RMB 50,000
15 days from opening or change
Bank account — to the tax office
The number of each company account.
If missed: up to RMB 2,000, in serious cases RMB 2,000–10,000
30 days from the start of employment
Employee — to social insurance and the housing fund
Registration within 30 days of the start of employment. An employee’s waiver of social insurance is invalid.
If missed: if not corrected on time: social insurance — 1–3 times the contributions, housing fund — RMB 50,000–300,000
20 working days after the contribution
Capital contribution — made public
Contribution details go into the information publicity system. The full capital is paid within 5 years of registration; companies set up before July 2024 must cut the remaining period to 5 years by 30 June 2027.
Benefits
A month with the accountant
From you — documents and fapiao requests; the books, returns and tax payment are handled by the accountant, the tax office and the bank.
From you — the month’s documents and fapiao requests. Bookkeeping, returns and tax payment run without your involvement; you receive the month’s results.
A nil return is still a return: missing it — a fine of up to RMB 2,000, in serious cases up to RMB 10,000.
Let’s discuss the details
Give us access to the electronic tax bureau or send the latest returns — we’ll check for gaps, arrears and upcoming deadlines, including the annual report.
Seals and access
Seals, the business licence and electronic access are the tools the company uses to sign, pay and report. Keep a list of who holds what.
Business licence
Local SAMR office
The original and a duplicate with the unified code — which is also the tax number. Banks and counterparties ask for it.
Company seal
Authorised seal engraving shop
The main seal: with it, a contract, power of attorney or application is deemed signed by the company.
Financial seal
Authorised seal engraving shop
For bank and financial documents; keep it separately from the company seal.
Legal representative’s seal
Authorised seal engraving shop
The director’s personal seal; some banks require it as early as account opening.
Fapiao seal
Authorised seal engraving shop
Needed only for paper fapiao: electronic ones carry a digital signature. A contract seal is optional, at the company’s choice.
Electronic tax bureau
State Taxation Administration (STA)
This is where electronic fapiao are issued, returns filed and taxes paid; the company sees the fapiao it receives in its tax digital account.
Bank accounts and tokens
Bank in China
A basic account in yuan and a foreign-currency account for capital; payments are confirmed with tokens. Each account is reported to the tax office within 15 days.
Registered address
Owner of the premises
An address suitable for registration in the district: the registrar looks for the company there.
Renewed annually — from €1,440 a year
Process
Every step is visible in the client portal: what’s happening now and whether we need anything from you.
Steps on your side: 1 of 7
We look at the business licence, tax regime, filing period — month or quarter, staff and bank. If another accountant kept the books — we reconcile what was filed and any arrears.
Step 1 of 7
We look at the business licence, tax regime, filing period — month or quarter, staff and bank. If another accountant kept the books — we reconcile what was filed and any arrears.
Documents
To start support
Every month
For changes in the company
Timing and budget
A company in China costs money every month: accountant, address, taxes and contributions — even with no revenue. We quote the accountant’s price after reviewing the volume of transactions; our fee is a separate line.
Getting it right
Click a card to see how to do it right · 0 of 6 open
01 What people often do
Not filing returns while there is no revenue.
02 What people often do
Skipping the annual reconciliation in a loss-making year.
03 What people often do
Keeping all seals and bank tokens with one employee.
04 What people often do
Changing the legal representative by resolution and forgetting the registrar.
05 What people often do
Missing the annual report in the first full year.
06 What people often do
Stopping paying for the address and treating the company as closed.
FAQ
Kermen Tserenkeeva — Company registration
Yes. VAT and corporate income tax prepayment are declared within 15 days after the month or quarter, the annual reconciliation — by 31 May, the annual report — by 30 June. The corporate income tax rules expressly require filing whether there is a profit or a loss.
Kermen Tserenkeeva · Company registrationDeadlines, amounts and rules are based on these sources as of the check date. Rules change: check with us before deciding.
Often goes with this
Company RegistrationChina
If there is no company yet: whether you need one, the address, the capital and registration with SAMR.
Bank AccountsChina
An account with a Chinese bank — including an NRA account for a foreign company without a company in China.
Business SupportHong Kong
If the shareholder of the Chinese company is a Hong Kong one: its secretary, audit and reporting in Hong Kong.
Next step
Tell us where the company is registered, whether it has sales and staff, and who keeps the books now. We’ll check the returns and annual report already filed, estimate the accountant’s workload and quote our fee as a separate line.
Kermen TserenkeevaSenior Lawyer · Company registration
Business Support in the UAE and Abroad
