Shenzhen Announces 2010 Joint Annual Inspection for Foreign Invested Enterprises

Shenzhen announced that it will implement joint annual inspections of foreign invested enterprises (FIEs) between March 1 and June 30, 2011.

All FIEs registered in Shenzhen prior to December 31, 2010 are required to apply for joint annual inspection with seven departments including the Shenzhen Science, Industry, Trade and Information Technology Commission, Finance Bureau, Statistics Bureau, local Tax Bureau, Market Supervision Bureau, State Tax Bureau, and Foreign Exchange Bureau. The annual inspection will be conducted online, and all participating enterprises are required to complete the declaration of all information through the Internet.

Aside from the Market Supervision Bureau, no other departments will affix annual inspection stamps on the licenses they issue. Enterprises that pass the annual inspection can determine based on their own discretion whether or not to have the annual inspection seal affixed on their business license by the market supervision bureau.

For professional assistance in South China contact Rosario Di Maggio at rosario.dimaggio@dezshira.com or visit www.dezshira.com

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China Briefing hosts a wealth of business intelligence on legal, tax, and operational issues in China from a practical perspective. Knowledge, expertise and commentary for China Briefing is regularly contributed by Dezan Shira & Associates´ professional legal and tax staff. Currently located in Futian district, Dezan Shira & Associates has been assisting foreign companies in Shenzhen for 22 years.

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