Other Briefings
SAT Clarifies Implementation Issues for Corporate Income Tax
Mar. 12 – On February 22, the State Administration of Taxation published Circular 79 in an effort to clarify certain technical issues for corporate income tax purposes including the timing of income recognition, tax treatments for certain expenses, and the determination of tax basis for fixed assets. This clarification relates tax treatment for expenses including […]
Chris Devonshire-Ellis: RO Chief Representatives May Consider Power of Attorney in Tax Questioning
Op-Ed Commentary: Chris Devonshire-Ellis and Richard Hoffmann Mar. 9 – With foreign company representative offices coming under intense scrutiny at the present time due to the changes in tax treatments levied from January 1, 2010, pressure is now on the chief representatives of China-based ROs to fully comply with tax audits and questions raised over […]
China Curbs Property Speculation to Avert Real Estate Bubble
Mar. 8 – Whether or not it is an appropriate time to launch a property tax and curb skyrocketing housing prices in China has aroused hot debate at the annual sessions of the National People’s Congress, China’s top legislature, and the Chinese People’s Political Consultative Conference, the top advisory body. China reintroduced a nationwide real […]
SAT Increases Deemed Profit Rates for Non-Resident Enterprises
Mar. 5 – The State Administration of Taxation has increased the corporate income tax deemed profits rates for non-resident enterprises carrying out services or projects in China. Under Guoshuifa [2010] No. 19, issued on February 20, unless a resident enterprise is able to provide accurate accounting records, CIT liability for services or projects carried out […]
Chris Devonshire-Ellis: Expatriates Going Offshore in China Contracts? Think Again
Op-Ed Commentary: Chris Devonshire-Ellis and Richard Hoffmann Mar. 5 – One symptom of the tightening of China’s economy and the impact of labor law is an increasing desire by Chinese employers to offset or reduce potential liabilities with their expatriate employees, such as expatriates employed by domestic Chinese companies being asked to establish an offshore […]
Seminar in Beijing Reviews 2010 China Tax Requirements
Mar. 5 – The Singapore Chamber of Commerce, the Danish Chamber of Commerce and the Israel Chamber of Commerce hosted an event on 2010 annual tax compliance and audit requirements for individuals and small and medium sized enterprises at the Westin Hotel in Beijing yesterday. Keynote speaker Sabrina Zhang of Dezan Shira and Associates presented […]
SAT Increases Deemed Profit Rates for Representative Offices in China
Mar. 4 – Representative offices are no longer exempt from corporate income tax in China according to a recently issued circular by the State Administration of Taxation. Guoshuifa [2010] No. 18, issued on February 20, 2010, explicitly stipulates that ROs shall pay corporate income tax on their taxable income, as well as sales tax and […]
New Issue of China Briefing Magazine: Operational Due Diligence in China
Mar. 2 – In this new issue of China Briefing, we take a look at operational due diligence issues and how to kick a China business’s tires. First, we delve into some of the operational, financial and HR issues that anyone investing in China should be aware of. From establishment issues to key operational functions […]
