Given the ongoing pandemic, foreign invested enterprises in China will benefit from regular audit reporting that will reduce their risk exposure and help their financial management.
China’s customs authority recently clarified the duty exemption policy on equipment, technology, accessories, and spare parts imported for self-use purpose.
We discuss how China businesses can stay compliant while bookkeeping and archiving e-fapiao for reimbursement and avoid triggering additional tax costs or penalties.
We explain China’s updated import and export tax rates and duties for 2021, and highlight key issues that foreign companies should take note of.
Special VAT e-fapiao are now being implemented in more regions and can be accepted by fapiao recipients across the country.
China’s State Taxation Administration issued a circular clarifying the specific deadlines for filing tax returns in 2021.
Foreign invested enterprises in China should note these common errors to optimize their internal finance processes and get the most out of their annual audit.
China is extending companies’ pretax deduction for advertising and business publicity expenses from January 1, 2021 to December 31, 2025.