Tax & Accounting

Annual CIT Reconciliation in 2024 – A Brief Guide for Companies

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Companies are advised to begin tax filing procedures as soon as possible to complete CIT reconciliation before the deadline of May 31, 2024.

China Monthly Tax Brief: March 2024

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In this monthly China tax brief, we spotlight policies and measures announced or scheduled for implementation in March 2024. These initiatives target to increase market access, attract foreign investment, support technology innovation, and clarify tax compliance.

Navigating Hong Kong’s Annual Employer’s Return: Compliance and Best Practices

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The Annual Employer’s Return filing in Hong Kong begins on the first working day of April and should be completed within one month. Employers are advised to start preparations early and allocate sufficient resources to meet this tight deadline.

Tax Filing for Outbound Payments in China: A Complete Guide

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When an individual or organization in China makes a single outbound payment to overseas entities that exceeds the equivalent of US$50,000, the payer must complete tax filing for outbound payments with the local branch of the STA, with limited exceptions.

China Monthly Tax Brief: February 2024

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In this monthly China tax brief, we spotlight policies and measures announced or scheduled for implementation in February 2024. These initiatives aim to clarify tax compliance, support businesses, promote headquarters, expand market access, and attract talent.

Hong Kong Budget 2024-2025 – Government Implements New Tax Arrangements and Extends Funding Schemes

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The 2024-25 Hong Kong Budget introduces new tax arrangements to raise public funds and extends support policies for companies and individuals.

Hong Kong Removed from EU Watchlist Following Changes to Regulations on Foreign-Sourced Income

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Under new rules on foreign-sourced income exemption, MNEs that don’t meet certain substance requirements may be taxed on some types of income derived overseas.

China Annual IIT Reconciliation in 2024: Everything You Need to Know

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Annual IIT reconciliation for the year 2023 is ongoing. Starting from March 21, taxpayers can make the final tax settlement directly without requiring a prior appointment.

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