Accounting
Our simple accounting system primarily tracks expenses and income. The more detailed the records, the better, and ideally, with relevant receipts.
II. Tax Reporting
Individual businesses registered for tax have two options for declaring their taxes: either through accounting or fixed periodic assessment. The process for declaring taxes varies depending on the chosen method, and the reporting period for individual businesses is typically one quarter.
How Individual Business Owners in Xi'an Can File Taxes and Keep Accounts
III. Specific Methods for Tax Reporting and Accounting
(1) First, download and register an account with the Electronic Tax Administration online using your mobile phone, followed by real-name authentication.
(2) In-person tax species certification at the tax bureau usually requires payments of VAT, additional taxes, stamp duty, etc.
For small-scale businesses, Value-Added Tax (VAT) is typically reported quarterly, while other taxes are submitted monthly. General taxpayers generally file monthly.
(3) Once the above two tasks are completed, you can operate directly on your phone by accessing the Electronic Tax Administration, clicking on "I Want to Tax," and then selecting "Tax Declaration" and "Payment."
(4) After entering "Declaration," the pop-up page will display all tax types requiring declaration. At this point, you simply need to click and fill out the declaration form behind the respective tax type, with a typical example being the Value-Added Tax Declaration.
(5) After all required tax types have been reported for the month, it's necessary to return to the reporting interface. Only when all options display "Reported" does it indicate that the individual business owner has completed the tax reporting for the current month.
(6) On the displayed page "Declaration Form Filling Interface," fill in the relevant data information as required.
(7) Once data entry is complete, click "Next" in the upper right corner of the page. The relevant tax types for sole proprietors will be successfully reported. After successful reporting, if there are taxes to be deducted, proceed with the tax deduction.
