Our collection of resources based on what we have learned on the ground

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Tax Burdens of Paying Dividends from China to Overseas

Tax Burdens of Paying Dividends from China to Overseas

This infographic shows the tax burdens when dividends are being paid out of China to overseas.

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Procedures for Outward Payment of Service Fees and Royalties

Procedures for Outward Payment of Service Fees and Royalties

This infographic details the necessary steps which need to be taken for outward payment of service fees and royalties.

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Service Fees between China and Overseas Entities

Service Fees between China and Overseas Entities

This infographic details the exchange of service fees between the foreign-invested enterprise in China and its parent company abroad.

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Procedures for the Declaration & Repatriation of Dividends in China

Procedures for the Declaration & Repatriation of Dividends in China

This infographic details the steps that need to be taken during the procedure for declaring and repatriating dividends.

Q&A

What are the two primary objectives associated with annual audit in India?

What are the two primary objectives associated with annual audit in India?

There are two primary objectives associated with annual audit in India. The first objective is for auditors to report to shareholders and the government whether or not the company’s balance sheet provides a true and fair reflection of its state...

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Are audit compulsory under Indian law and who are qualified to conduct annual au...

Are audit compulsory under Indian law and who are qualified to conduct annual au...

Audits of company accounts have been compulsory in India since the passing of the first Companies Act in 1913. Since then, the Institute of Chartered Accountants of India (ICAI), a statutory body established under the Chartered Accountants Act, 1949,...

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Why is it useful to conduct audit in India?

Why is it useful to conduct audit in India?

Other than complying to relevant laws mandating for audits, the importance of the audit process cannot be understated, as the results can be used for the following purposes: Helping investors know the financial health of the company; Assuring the...

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What does the financial statement of a company in India entail?

What does the financial statement of a company in India entail?

The financial statements should include a balance sheet, profit & loss account, cash flow statement and notes to accounts. Ensuring a company’s balance sheet provides a true and fair reflection of its current state of affairs requires an a...

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What do statutory audits in India entail?

What do statutory audits in India entail?

Statutory audits are conducted to report the current state of a company’s finances and accounts to the Indian government and shareholders. Such audits are performed by qualified auditors working as external and independent parties. The audit re...

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What are the rules for tax audits in India?

What are the rules for tax audits in India?

Tax audits are required under Section 44AB of India’s Income Tax Act 1961. This section mandates that those whose business turnover exceeds INR 10 million, and those working in a profession with gross receipts exceeding INR 2.5 million, must ha...

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What is required for company audits in India?

What is required for company audits in India?

The provisions for company audits are contained in the Companies Act 1956 and Companies Act 2013 as applicable. Every company, regardless of its nature of business or turnover, must have its annual accounts audited each financial year. For this purpo...

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Which opinions may an auditor in India express in the report?

Which opinions may an auditor in India express in the report?

The auditor’s opinion in expressed in the ultimate report is based on the information gathered during the audit and the verification of financial statements. Upon completing the report, the auditor may express one of the following four opinions...

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