Topic Outline

According to the Interim Provisions on the Administration of Chinese-Foreign Contractual Accounting Firms, it is allowed to establish Sino-foreign contractual accounting firms in China, but the establishment of equity joint venture or wholly foreign owned accounting firms are not allowed in China. The business scope of Chinese-foreign contractual accounting firm covers: audit for domestic and oversea customers, capital verification, tax advisory, foreign investment consultation, assets evaluation (only after getting the qualification in assets evaluation issued by authorized governmental department), and other services according to the requirements of the clients. The topic summarizes the related rules & regulations, registration requirements, procedures, accounting & tax by SMERT, SAIC, Tax Bureau and other related departments you may focus on in relation to foreign invested certified public accountant company.

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