Dec. 1 – The December issue of China Briefing magazine is out now and available for download (click on the image – subscription required however this is complimentary).

In this issue, we take our annual look at the end of year considerations for your businesses annual filings, licensing procedures and audit issues that affect all companies in China from January 1. We explain correct accounting procedures, how to book expenses properly into your annual audit, and advise on the various re-registration and license renewals that every China-based business must go through to remain in compliance with China’s State Administration of Taxation and the Ministry of Commerce for the forthcoming year. This is an important subject as for the first time, the new CIT tax laws issued at the beginning of this year affect your annual reporting procedures for the accounts ended year 2008.

In our series on China’s second- and third-tier cities, we focus on Yangzhou in the Yangtze River Delta, Foshan in the Pearl River Delta, and Baotou in Inner Mongolia.

Included in this issue:
Annual licensing review procedures for January 2009

General accounting principles

Issues to be considered for year end 2008 accounts closing

Transfer pricing issues during audit