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Why Should Do the Annual Inspection ?
The industrial and commercial administration know better about your company's business situation from the annual inspection your provided, so as to ensure the security of the transaction. That's why every self-employed household and enterprise must prepare and provide annual inspection on time. Through the annual inspection, enterprises can show to other people the strength and honesty of the company's business, which is good for the company's long-term development.
Any market entity which registered in the industrial and commercial department need to do the annual inspection, including self-employed households and enterprises.
Government Authorities Involved in the Annual Inspection
（1）Foreign Trade and Economic Cooperation of Guangzhou Municipality
（2）Administration for Industry and Commerce
Time Period for Annual Inspection: 1st March to 30th June every year.
Penalty for Failure to Perform Annual Inspection
According to the "Regulations on Commercial Registration of Guangdong Province" and relevant documents:
a) Once failure to publicize the annual report in accordance with regulations or failing to publicize relevant information within the time limit ordered by the registration authority shall impose a fine of 5,000rmb to 30,000rmb. If an self-employed household fails to submit the annual report in accordance with relevant state regulations, the registration authority shall order it to make corrections; if it fails to make corrections, it shall impose a fine of 100rmb to 1,000rmb.
b) Where the public information conceals the true situation and falsifies, the registration authority shall make corrections within a time limit and may impose a fine of 10,000 to 30,000 rmb on the illegal enterprises and a fine of 500 to 5,000 rmb on the illegal self-employed households.
c) If the enterprise fails to accept the annual inspection within the specified time limit, the enterprise registration authorities will make an announcement. The enterprise’s business licence will be revoked if the enterprise still fails to accept the annual inspection within 60 days from the announcement.
For more details about the annual inspection, please contact GZ Timely, save your time and worry free. Our hotline: 020-83652006.