March: Operational Due Diligence: Kicking Your China Business’s Tires

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China Briefing is a monthly magazine and daily news service about doing business in China. We cover topics relating to the Chinese economy, the market in China, foreign direct investment and Chinese law and tax. It is written in-house by the foreign investment professionals at Dezan Shira & Associates

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March: Operational Due Diligence: Kicking Your China Business’s Tires

In this issue of China Briefing we a look at operational due diligence and compliance issues that should be taken into account when "kicking the tires" of a China business. This includes operational issues like examining organizational structures, risk assessments, key operational functions, external relationships, competitors, environmental considerations and corporate secretarial responsibilities. It also involves financial issues including assessing financial statements and audit, taxes and tax filing, financial reporting and depreciation of assets. We conclude our look at operational due diligence by reviewing some human resources concerns including key employment issues and social security benefits that companies in China may face.

In additional to operational due diligence issues, we investigate China's new transfer pricing documentation requirements and look at what records companies will need to have compiled by May 31. With an increased burden on compliance and stricter penalties in place, it is important that enterprises involved in transfer pricing properly maintain their documentation and keep themselves completely updated on all tax requirements.

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Closing Down Representative Offices and Liquidating Businesses in China
	With the global economic crisis still affecting businesses in China, executives must be aware of their responsibilities when having to liquidate a business on the mainland. Overseas companies may be impacted by external circumstances beyond their control and have to close their China-based representative offices as a result of a situation with their parent company. PURCHASE NOW

January: Preparing for Annual Audits in China

It's annual audit season in China, a time when companies take stock of their business on the mainland, prepare annual corporate income tax filings, and review any outstanding issues that may affect the coming year. It is also a good time to review the company business license; something that all China-based businesses must do every year. In this issue of China Briefing we take a look at some of the more pertinent aspects of China's audit regulations, examine some corporate tax considerations to take into account when filing CIT returns, and review the preparation procedure for an annual business license review. We also run through some of the salient individual income tax issues for expatriates living and working in China.

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