Other Briefings
Double taxation agreement for Hong Kong and mainland China in effect for 2007 tax year
By Stefanie Knirsch and Richard Hoffmann/Dezan Shira & Associates In August 2006, China and Hong Kong signed an arrangement that provides certainty and preferential tax treatment between the two tax jurisdictions, known as the “Arrangement for the Avoidance of Double Taxation on Income and Prevention of Fiscal Evasion”. Since 1995, Hong Kong has been seeking […]
New IIT systems for expatriates come online in Shenzhen
By Eugenia Wu/Dezan Shira & Associates SHENZHEN, Sept.28 -The Shenzhen tax bureau has changed its IIT declaration systems for companies with high payments. The two new systems – IIT withholding and Yi Cai Shui (easy tax) – came into effect in July, 2007. The Yi Cai Shui system transmits data from IIT withholding to the […]
Buying at the Canton Trade Fair? Watch your due diligence and go for the final day bargains
Sep. 14 – The time of year when autumn turns leaves gold sees many Western traders also pack their bags, head for the airport with China visas neatly stamped in their passports. Yup, it’s Canton Trade Fair time again. And two months later, it’s time when phones start ringing at the Guangzhou offices of Dezan […]
New restrictions on processing trade come into effect
China announced a new policy restricting processing trade in an effort to reduce a growing trade surplus. As approved by the State Council, the Ministry of Commerce and the General Administration of Customs jointly issued Announcement No. 44 introducing a new catalogue of restricted commodities on July 23. The new policy, which took effect August […]
Foreign interns experience working in Guangzhou
There was an interesting televised program on Guangzhou today in which three interns gave their experiences of working for foreign companies in Guangzhou. One of them is Artur Jakubas, a Polish student currently undertaking an internship with Dezan Shira & Associates in the firm’s Guangzhou office, as part of his masters thesis at the University […]
Macau’s development outshines that of Beijing’s Olympics
The tiny ex-Portuguese colony of Macau, just tacked onto South China and a 40 minute jet foil ride away from Hong Kong, is undergoing some serious investment and opportunities abound for the international hospitality and services industry. Now is the time, when all the hype is on Beijing, to take a look at what is […]
Guangzhou airport looks to become international cargo hub
GUANGZHOU, July 31 – Guangzhou Baiyun International, China’s third busiest airport after Beijing and Shanghai, is expanding its efforts to become an international air cargo and logistics hub in prosperous South China. China Daily reported that international logistics companies will play a larger part in reaching the goal, according to Liu Zijing, president of the […]
Housing fund contributions change for Beijing, Shanghai and Guangzhou
Provincial tax authorities recently announced an amendment to the regulations that govern tax free contributions to basic pension funds, basic medical insurance, unemployment and housing funds (Cai Shui (2006) Circular 10). Effective July 1, 2007, provincial supervision bureaus have put in place new regulations on housing fund contributions for Beijing, Shanghai and Guangzhou. When it was issued […]
