What aspects should foreign-invested enterprises (FIEs) pay attention to in tax filing and inspection when dealing with their annual compliance in China?

All foreign-invested enterprises should pay attention to the following:

• The FIEs should submit the Annual Taxation Consolidation Reporting Package, which is authorized by the CPA firms, to the tax bureau by the end of May each year.
• The FIEs should make sure the CPA firms verify all the taxes payable. If there are discrepancies between the taxes payable by the foreign-invested entities and and the taxes paid, the foreign-invested entities must discuss such discrepancies with the tax bureau – which might result in a tax rebate or an extra payment to settle the outstanding tax liabilities.
• The FIEs must cooperate with all governmental departments in conducting the annual inspection (also called, annual cooperative examination), and obtain the examination documents from the same office where they obtained their business license.
• The FIEs shall submit a signed annual cooperative examination report and other materials stipulated, such as audited financial statements, to the governmental authority by the end of June.