1.Our service content about the financial agent
Establishment of financial accounting system; review of underlying documents, preparation of accounting entries and financial statements, tax declaration, daily financial consulting, coordination of tax audit or check
2.Advantages of Wecome as a financial agent
(1) With more financial staff, do not worry that no one is in charge of the financial work due to resignation of financial staff.
(2) Our financial expertise is strong from primary financial accountants to certified public accountants, and even the special research team is also established to further research the accounts according to the different industries, so that the different tax problems can be solved.
(3) Our company has a good financial management system, that is, the financial staff is responsible for accounting and the financial executive is in charge of reviewing, so as to avoid the financial problems caused by negligence.
3.Working hours of financial agent
Tax requirements: The enterprise must declare monthly financial statements and value-added tax and corporate income tax, etc., so it is necessary to need the financial staff to keep accounts and declare dutiable goods monthly, and our service fee is also collected monthly.
4.Difference between full-time financial staff and financial agent and advantages of financial agent
Full-time financial staff:
(1). With high financial cost, the monthly salary of a financial staff is at least USD 1,500/month.
(2). The financial experience is limited, which cannot effectively help the enterprise realize the reasonable tax avoidance
(3). The enterprise’s own financial staff keeps accounts due to the limited personnel and perfect financial management system.
(1). The financial cost is saved, and the monthly financial agency fee is at least about USD 450.
(2). Our company has 150 financial staff and senior financial staff for different business account.
(3). There is a sound financial management system to ensure the safety of accounts
(4). We are good at making tax planning for the enterprise to ensure the legitimate and normal operation.
(5). There are professional tax policy advises.
5. Classification of financial agents of foreign-funded companies: service and commercial companies…… and methods of distinction
The distinction between different company industries is mainly based on the company’s business scope. For example, the commercial consulting and science & technology companies belong to the service industry, the sales of products belong to the trade enterprises, and there are also other building industries. The tax rates are different according to the different industries.
6. Small-scale taxpayers and VAT, difference and tax rate
Small-scale enterprises: tax rate: 3%, applicable to all kinds of industries
General taxpayers: trade industry: 17%
Service industry: 6%
Building industry: 11%, etc.
Small-scale enterprises can only issue ordinary VAT invoices, which cannot be used to deduct VAT.
General taxpayers can issue special VAT invoices and ordinary invoices, which can be used to deduct VAT.
7.All taxes (including name, tax rate and base) to be borne by a foreign-funded company
VAT: 3-17% (based on operating revenue)
Corporate income tax: 25% (based on the difference between operating revenue and cost expenditure)
Shareholder dividend tax: 5-20% (which should be paid before the after-tax profits are returned to the shareholders’ accounts)
Individual income tax: employee salary income tax should be paid by the company
Local additional tax: 7-11% (based on the sum of VAT and corporate income tax)
8. Time of company annual inspection
The annual inspection publicity and joint annual inspection are required from Jan. 1 to Jun. 30 every year, their expenses are respectively USD 300and USD500.
9. How to pay taxes for employees in Shanghai
The individual tax shall be declared according to the employee’s salary, the part of domestic employee’s salary exceeding RMB 3,500 needs to be taxed, and the part of foreigner’s salary exceeding RMB 4,800 needs to taxed.
10. Cost for the maintenance of a foreign-funded company every year: at least USD 5,500/year
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