China Tax Alert - Issue 5, March 2014
According to the Reform Plan on Registered Capital Registration System issued by the State Council, the current corporate annual inspection system will be replaced by an annual corporate public reporting system. Recently Shanghai clarifies the enterprises registered in Shanghai Pilot FTZ to release relevant business information to the public domain. Enterprises should pay attention to the timeline and contents of annual reporting. Those who fail to release their annual report within the designated period may be listed on the abnormal list, which will have adverse impact on the company’s reputation. At the same time, the requirement of annual reporting and disclosure to the public sets a higher bar on information veracity, and companies should be more careful in this regard.
© 2021 KPMG KPMG Huazhen LLP, a People's Republic of China partnership, KPMG Advisory (China) Limited, a limited liability company in China, KPMG, a Macau partnership and KPMG, a Hong Kong partnership, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation.
For more detail about the structure of the KPMG global organisation please visit https://home.kpmg/governance.