Ahmedabad, Gujarat, India
Our Product / Services
Accounting & Bookkeeping standards in China differ from one country to another, even though most countries GAAP have been modified to be in compliance or similar to International Financial Reporting Standards (IFRS). Chinese accounting standards are the accounting rules used in mainland China. As of February 2010, the Chinese accounting standard systems is composed of Basic Standard, 38 specific standards and application guidance.
Every accounting and bookkeeping GAAP has its own standards and sometimes allows for more than one way to report. For example, there are different rules for impairment of assets, inventory costs & reversal, capitalization of development costs, depreciation expenses, interest & dividend expenses and asset valuation. Those different methods can have an impact on your business ratios, profitability and tax burden.
Our Accounting Services
Our Tax Services
Read more about Taxation in China
Accounting & Taxation in Hong Kong
Accountancy in Hong Kong is regulated by the HKICPA under the Professional Accountants Ordinance (Chapter 50, Laws of Hong Kong). The auditing industry for limited companies is regulated under the Companies Ordinance (Chapter 32, Laws of Hong Kong), and other Ordinances such as the Securities and Futures Ordinance, the Listing Rules, etc.
Accounting standards in Hong Kong are known as Hong Kong Financial Reporting Standards (HKFRS) and set out recognition, measurement, presentation and disclosure requirements dealing with transactions and events that are important in general purpose financial statements. It is the application of HKFRS that gives us a “true and fair view” of financial statements. The HKICPA has also issued a Financial Reporting Standard (SME-FRS) for certain qualifying SMEs. Since 30 April 2010, the Institute issued the Hong Kong Financial Reporting Standard for Private Entities (HKFRS for Private Entities) for Hong Kong companies that do not have public accountability. The HKFRS for Private Entities will eliminate some accounting treatments permitted under full HKFRSs, remove topics and disclosure requirements that are not generally relevant to private entities, and simplify requirements for recognition and measurement.
Tax Structure in Hong Kong
Taxes collected in Hong Kong can be generally classified as :
Our Accounting Services
Our Tax Services
Tax Structure In China
Tax Rate
| Standard rate | 0.25 |
|---|---|
| Small-scale enterprises | 10-20% |
| High-technology enterprises (HNTE) | 0.15 |
| Specific high-tech service enterprises in 21 cities between 1 Jul 2010 and 31 Dec 2018 | 0.15 |
| Companies engaged in encouraged businesses in certain regions | 0.15 |
Once product is ready to ship, we arrange the fastest, reliable, reasonable and professional logistic company to ship the cargo by Sea or Air as per your requirements and depending on nature of product.
We inspect cargo at two levels:
We take care of custom clearance and documents required.
Utilizing shipping technology, we select and suggest the best cost-effective shipping method as well as service provider for you, or you can choose it by yourself. For your convenience, you would have 24/7 online access to track your cargo once BL is issued.
A final step to resolve a commercial dispute is through litigation in courts. In China, foreign individuals and companies have the same ability to bring action in court as Chinese citizens and companies. There are three levels of courts in China. Every major city has basic courts and intermediate courts. Supervising these courts are the provincial high courts.
In Hong Kong Civil proceedings can be instituted by :
The standard of proof is based on the balance of probabilities. The main branches of civil law include contract, tort, property, administrative, family and revenue law.
Our lawyers have earned international acclaim for providing cutting-edge legal solutions to many foreign companies doing business in or with China & Hong Kong. Our vast experience handling China-Hong Kong specific entity formation, contracts, intellectual property matters, and dispute resolution gives our clients the security of knowing they have a truly seasoned legal team behind them.
Tips to avoid disputes :
Our qualified staff will visit the factory to assure the order is on the production schedule and maintain timely control of orders. We do following inspection to meet the quality requirements of clients :
Risk is a fact of business life, more so of international business. Importing can be an effective way of finding low-cost supplies, reducing your costs and making your business more competitive. It might even allow you to branch out into a whole new product line, selling something that isn’t generally available in India. Importing of products at low cost and selling at higher price in domestic country is well known and profit making trading business. But at the same time, importing is more complex than buying from a local supplier. And when things go wrong, sorting them out can be more difficult and expensive.
Risk is part of business and it cannot be avoided but it can be mitigated or reduced to some extent. Due to our expertise and network we are able to provide services to traders and manufacturers in importing quality products at least risk with best price. Our service starts from sourcing of product to till the final delivery of goods at your location.
Sourcing of product
Product Sourcing simply means “Finding products to sell through your business.” This refers to importing products at a wholesale price and selling them in domestic market for a profit. Sourcing product from right place is most important to reap the benefits in domestic market. There are hundred options for a particular product to be imported in respect of color, size, length, grade, country etc. We will help your company find sources to source your product from Asian country. We can provide numerous sourcing options for your product. We help you to source the product that meets your requirements. In addition before we start sourcing the product we provide our valuable views on market conditions, related duty and risk associated with product you want to import. This will save your money and time to focus on other profit making product.
How we source the product for you :
In a cross border transactions, learning more about your trading partner is a critical part of business decisions. In global trade there is little room for error in choosing a trustworthy supplier or relying on a credible buyer. Some of the common frauds in import business are :
To relive yourself from the above problems and be sure that you paid for what you intended to buy, we at China Trade Solution helps our clients to get the right product at their destination.
Our Payment term depends on product, quantity and business policy of manufacturer. We normally accept Telegraph Transfer payment, Western Union Money Transfer for order value below our specified limit. In case of large value order we accept Letter of Credit at Sight issued by prime bank in issuing country.
Business Project Report
The process of establishing a new business is preceded by the resolution to select entrepreneurship as an occupation. This calls for recognizing lucrative business ideas upon a meticulous evaluation of the entrepreneurial prospects. Creation of business ideas is not sufficient, they must be tested on techno-fiscal, economic and authorized viewpoints.
A project report for new business conducts a profound road map for effectual business venture. It discusses whether the business requires finance or not, the challenging risks, several problems en route, etc. Hence it becomes vital for every new business to prepare a project report, to acquaint them on forewarning issues.
We provide sector specific project report for China, Hong Kong and India.
Our project report contains all the relevant details as under.
Accounting & Bookkeeping standards in China differ from one country to another, even though most countries GAAP have been modified to be in compliance or similar to International Financial Reporting Standards (IFRS). Chinese accounting standards are the accounting rules used in mainland China. As of February 2010, the Chinese accounting standard systems is composed of Basic Standard, 38 specific standards and application guidance.
Every accounting and bookkeeping GAAP has its own standards and sometimes allows for more than one way to report. For example, there are different rules for impairment of assets, inventory costs & reversal, capitalization of development costs, depreciation expenses, interest & dividend expenses and asset valuation. Those different methods can have an impact on your business ratios, profitability and tax burden.
Our Accounting Services
Our Tax Services
Read more about Taxation in China
Accounting & Taxation in Hong Kong
Accountancy in Hong Kong is regulated by the HKICPA under the Professional Accountants Ordinance (Chapter 50, Laws of Hong Kong). The auditing industry for limited companies is regulated under the Companies Ordinance (Chapter 32, Laws of Hong Kong), and other Ordinances such as the Securities and Futures Ordinance, the Listing Rules, etc.
Accounting standards in Hong Kong are known as Hong Kong Financial Reporting Standards (HKFRS) and set out recognition, measurement, presentation and disclosure requirements dealing with transactions and events that are important in general purpose financial statements. It is the application of HKFRS that gives us a true and fair view of financial statements. The HKICPA has also issued a Financial Reporting Standard (SME-FRS) for certain qualifying SMEs. Since 30 April 2010, the Institute issued the Hong Kong Financial Reporting Standard for Private Entities (HKFRS for Private Entities) for Hong Kong companies that do not have public accountability. The HKFRS for Private Entities will eliminate some accounting treatments permitted under full HKFRSs, remove topics and disclosure requirements that are not generally relevant to private entities, and simplify requirements for recognition and measurement.
Tax Structure in Hong Kong
Taxes collected in Hong Kong can be generally classified as :
Our Accounting Services
Our Tax Services
