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.
China will cut US$45 billion in fees and tariffs for businesses and individuals as the government seeks to ease the pressure of a slowing economy.
The new China-Italy DTA breaks down many of the barriers that obstructed cross-border trade, investment, and knowledge exchange between the two countries.
On March 12, 2019, the European Commission removed Hong Kong from the European Union’s watchlist on non-cooperative tax jurisdictions.
China will lower its value-added tax rates as part of an RMB 2 trillion (US$298 billion) tax cut package. See the new VAT rates here.
We explain changes to individual taxation in China, including the revision of tax brackets, expanding deductibles, and altered residency rules for foreign workers.
To achieve full compliance, foreign invested enterprises in China need to follow the specified annual audit procedures established by the government.