Tax & Accounting

Dezan Shira & Associates Holds Seminar to Prepare for Upcoming Tax Season

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BEIJING, Dec. 10 – Dezan Shira & Associates held a seminar entitled “How to Manage Your Annual Compliance Processes in China for 2010” on Tuesday night at the German Centre Beijing, addressing issues pertinent to representative offices and wholly foreign-owned enterprises operating in China. Sabrina Zhang, the national tax partner for Dezan Shira & Associates, […]

Non-Profit Organization Requirements for Tax Exemption Explained

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Dec. 9 – The Ministry of Finance (MOF) and the State Administration of Taxation (SAT) has released a circular explaining the requirements needed by non-profit organizations (NPOs) to qualify for tax exemption. NPOs are eligible for tax exemption for five years. After that, NPOs must re-submit applications for the tax benefit within 3 months before […]

Welfare Payments to be Redefined as Taxable Income

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Dec. 4 – China’s Ministry of Finance (MOF) has released a notice that will reconsider welfare payments like transportation payments, communication subsidies and other benefits previously not subject to tax as part of an individual’s taxable income. The new regulation is a reaction to a nationwide inspection campaign launched by the State Administration of Taxation […]

Clarification on Real Property On-Letting

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Dec. 4 – The State Administration of Taxation has released Circular 639 to further explain individual income tax (IIT) treatments on income derived by individuals from on-letting real property. According to the circular, income earned from on-letting real property is taxable under the IIT’s property rental category. On-lessor rental given to the landlord is qualified […]

Claim Deadline for Input VAT Credits Extended

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Dec. 3 – China’s State Administration of Taxation (SAT) has issued  Circular 617 that extends the claim deadline for input value-added tax credits for certain invoices from 90 days to 180 days after issue date starting January 1, 2010. The circular covers VAT invoices, land and river good transportation invoices, motor vehicle sales invoices, and […]

Taxpayers Required to Revise 2008 Corporate Returns

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Dec. 2 – The State Administration of Taxation is requiring companies to revise their enterprise income tax filing cycle for 2008 to reflect tax circulars issued after May 31, 2009. This may lead to changes in taxes filed for the 2008 annual EIT return forms. The deadline for filing the changes is set before the […]

Fuel Surcharges Hike for International Flights Coming from Mainland, Hong Kong

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SHANGHAI, Dec. 2 – Airlines have hiked fuel surcharges by as high as 50 percent for international flights coming from the mainland and Hong Kong. According to Global Times, Air China increased charges from RMB200 yuan to RMB300 on flights to Singapore and Thailand. Cathay Pacific will implement a fuel add-on for flights less than […]

New Issue of China Briefing: Managing Your Human Capital

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Dec. 1 – The December issue of China Briefing magazine is out now and available for download (click on the image – complimentary subscription required). In this issue, we take a look at human resources and how foreign-invested companies in China can better manage them. Hiring and retaining competent and efficient staff is one of […]

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