Being incorporated in China may incur few challenges. Let me focus on financial ones or ones related to controlling.
Invoice issue
You may hear from your related supplier the sentence: With invoice for 100 or without for 70. It makes all accounts messy. Very messy I can tell u.
China is different - also for accounting
Do not be messed by this sentence. It is not true. Just ask for a good old accounting journal and spend your time. You may need google translate, but u can crack it. Ok, ok! They use accounts 1XX for the bank, 2XX for A/Rs and A/Ps. 3XX is for equity. But no big surprises. Only that one type of accounts is for costs and sales....5XX.
Nothing to be worried about. Keep asking your accountant. As long as the credit and debit side SUMs correspondent you are ok :)
Tax avoidance
I would describe it as a big one concerning it is social country. It is a big surprise. I sense it might be over optimised. I believe no need.
You stupid foreigner
It is so often to meet accountants with a small experience telling you how something works. And than you start to question them. Good deep in the issue and make them responsible for the words. Once the voice become quicker, once they remind you that they need to go home be careful. It usually means u will need to spend much more time with them that day.
Lots of luck in China!
It is country worth it.
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