China Company Joint Annual Examination (FIE)
Update time：2018-6-6 14:31:04 source：Tannet Views：778
China company joint annual examination (FIE) refers to the conductance of joint annual examination for foreign invested enterprise in China. With improved investment environment in China, more and more Enterprise are attracted to doing business in the country. The Chinese government requires the related authorities to jointly perform an annual examination on the foreign investment enterprise, so as to ensure that the sustainability of the legal interests of Enterprise.
Procedures of the Joint Annual Examination
(1) Providing the required information for annual Examination;
(2) Issuing an audit report by the CPA;
(3) Conducting the joint annual examination and reporting;
(4) Filing with the related authorities to stamp for the annual examination;
(5) Transferal of the relevant information.
Time for the Joint Annual Examination
The company is required to conduct the joint annual examination from March 1st up to June 30th every year commencing from the second year following its establishment and once a year thereafter.
Authorities Related to the Joint Annual Examination
Bureau of Foreign Trade & Economic Cooperation;
Administration for Industry and Commerce;
Financial Bureau;
National Tax Bureau;
Local Tax Bureau;
Bureau of Statistics;
Administration of Foreign Exchange.
Consequence for Late Performance
The conductance of the annual examination is a legal way for the company to continue its operation. An enterprise is subject to a penalty for late performance of the joint annual examination from the related authorities according to laws and regulations. An Enterprise that suffered from serious lateness for the joint annual examination will be compulsorily deregistered.
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