Post-Administration of Annual Corporate Income Tax Filing

In July, the financial personnel who were finishing the annual corporate income tax (“CIT”) filing will soon face with the post-administration. Under the circumstance of reforms to streamline administration, to delegate powers, and improve regulation and services, tax authorities are increasingly focusing on tax supervision through big data collection and comparison. We have heard many enterprises express concerns, and the post-administration of CIT annual filing is becoming more and more challenging.
 
Based on the collection of big data constructed in the tax filing and administration system, by comparing the detailed information filled in the annual CIT filing returns with the daily disclosed information of enterprises, the risk warnings put forward by tax authorities are more and more accurate. However, due to the cancellation of "pre-approval" for some tax-related matters from the tax bureau, some enterprises feel that they are feebly in response to post-administration.
 
On this occasion, we would like to introduce some tips to deal with the CIT annual filing post-administration risks and share some common post-administration risks with solutions, and we hope these could provide guidance and suggestions on the tax risks of relevant enterprises. Meanwhile, in addition to better handling the post-administration of annual CIT filing for 2018, enterprises can early check and get prepared for the tax-related matters of 2019 in the second half of the year.

Please download 2019 China Tax Alert Issue 4 to learn more.