China’s new Stamp Tax Law takes effect July 1, 2022, and will trigger simplification of tax compliance, changes to some tax rates, and new exemptions.
We discuss how CFOs in China can prepare for the impact of the wider roll-out of special VAT e-fapiao on their existing procedures and operating systems.
Qualified enterprises in Shenzhen Qianhai Area can enjoy 15% CIT until December 31, 2025 – China’s national CIT rate is 25%.
China has clarified CIT treatment on six items, including COVID-19 charitable donations, convertible bonds, art assets, and cross-border hybrid investments.
We explain how to ensure e-fapiao compliance management for businesses in China that purchase, obtain, transfer, and keep e-fapiao and relevant regulations.
China’s e-fapiao system is an electronic VAT invoicing process that cuts red tape, streamlines compliance procedures, and seeks to prevent receipt abuse.
In this issue of China Briefing magazine, we demonstrate the opportunities and risks associated with China’s e-fapiao implementation.
Given China’s unique digital economy, the country remains more inclined to tax its booming domestic tech-conglomerates than target global technology MNCs.