Withholding Corporate Income Tax (CIT) is applied to China-sourced income derived by non-resident enterprises without establishments in China. Read more about withholding CIT here.
On April 25, the State Council announced that China will cut more than RMB 60 billion (US$9.5 billion) worth of taxes for small and micro enterprises and high-tech firms. Read the details here.
China’s new VAT rates are set to take effect on May 1, 2018. Companies located in or doing business with China should take action to adjust to the tax updates and determine how their operations will be affected.
China recently lowered its value-added tax (VAT) rates, as part of an RMB 400 billion (US$64 billion) tax cut package. Here, we look at the updated VAT rates.
For foreign companies with subsidiaries in China, repatriating profit from their subsidiaries has always been an important and challenging issue. Here, we look at the process of repatriating profits abroad.
China will cut value-added tax (VAT) rates for businesses in the manufacturing, transportation, construction, telecommunication, and agricultural sectors, according to Premier Li Keqiang.
China has amended qualification standards and procedures for non-profit organizations (NPOs) to acquire tax exempt status. Read about the new rules here.
Hong Kong account holders – both individuals and entities – must prepare to report their tax information to the Inland Revenue Department (IRD) by May 2018 for exchange with partner countries.