Situations on foreign-funded enterprises applying for an extension to pay taxes Updated: September 13, 2018

Foreign enterprises in China should pay tax and enjoy preferential treatment of tax discount, tax-free in accordance with relevant state tax provisions. Enterprises must set up the accounting books, independent accounting and submitting financial reports, under the supervision of the financial and tax authorities. For those which refuse to set up the accounting books in China, the financial and tax authorities can impose a fine, the industrial and commercial administrative organs shall order them to cease operation or revoke their business licenses.