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WHAT ARE THE MAIN DIFFERENCES BETWEEN PRC GAAP, IFRS AND US GAAP?

There are a number of government bodies you need to go through if you want to deregister a business. The period of business deregistrationgenerally would normally range from 3 months to half a year or even longer due to complicated procedures.

Of these government bodies, the tax authority is most critical. The tax authority will go to your company to conduct a full tax audit from the date of inception of the company until its field work date. All vouchers, ledgers, financial statements, contracts, tax filings documents, tax payment receipts, etc., must be provided for its review. Any questions from the tax authority should be promptly explained. Any discrepancy from tax rules may result in repayments, fines or penalties due to your noncompliance.

As a deregistration of company, we can work with your accounting staff, handle liquidation committee, and coordinate various government relationships to smoothly withdraw you from a non-performing business.

Are you setting up a company in China? Lee & Lee Associateswill provide you with the strong support!



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