We briefly examine China’s new tax concessions for its elderly care industry, childcare, and domestic services and the opportunities and challenges for investors.
We explain China’s updated import and export tax rates and duties, and highlight key issues that foreign companies should take note of.
In China, a fapiao is a legal receipt that serves as proof of purchase for goods and services. The larger fapiao invoice system, however, is an essential component of China’s tax law, and compliance for businesses.
China continues to announce a variety of support measures for its high-tech industries amid a protracted trade war with the US.
Hong Kong and Australia have formalized their trade relationship, with a new FTA and Investment Agreement signed on March 26, 2019.
China has reduced the CIT rate to 15% for enterprises engaged in pollution prevention and control like waste management or pollution monitoring.
China will grant subsidies linked to individual income tax to overseas ‘high-end’ and ‘urgently-needed’ talents working in the Greater Bay Area.
China’s new VAT policy took effect on April 1, 2019 and aims to boost economic activity in certain sectors by lowering VAT rates and increasing VAT credits.