Latest News

Showing 8 of 1123 articles
  • by Reading Time: 1 minute

    IIT rules for expatriates in Hangzhou change

    By Helen Ye/Dezan Shira & Associates  HANGZHOU, Sept. 26 – We have been seeing a lot of variations locally on how the individual income tax (IIT) regime has been administered for expatriates, and Hangzhou, just west of Shanghai, is a perfect example of this. Previously in Hangzhou, it was permissible to have an agent, not[…..]

  • by Reading Time: 1 minute

    Tax inspection on offices premises in Shanghai

    Earlier this year, a new policy of conducting an on-sight tax inspection for any new representative office (RO) or wholly foreign owned enterprise (WFOE) has come into practice in Shanghai. Under this current practice, the tax inspection on the office premises will have to be conducted before tax registration can begin. Because the tax officer[…..]

  • by Reading Time: 3 minutes

    Overseas bourses now allowed representative offices on mainland

    Aug. 31 – As the China Securities Regulatory Commission announced earlier this year, foreign stock exchanges are now able set up representative offices to promote their organizations and conduct research on the mainland. The Measures for the Administration of Foreign Stock Exchanges’ Representative Office in China, which came into effect July 1, permits overseas bourses[…..]

  • by Reading Time: 2 minutes

    VAT refunds for FICEs stall in Hangzhou

    By Andy Scott HANGZHOU, Aug. 24 – Foreign invested commercial enterprises best look elsewhere when considering a place to set up, at least that is the consensus we are getting from Hangzhou, where the authorities are making it very difficult for FICEs to receive their VAT refunds on exported goods. Since June 2004, China has[…..]

  • by Reading Time: 2 minutes

    Sarbanes-Oxley: Five years on

    By Andy Scott Aug. 2 – Monday was the fifth anniversary of the signing of the Sarbanes Oxley Act, a law that has had a huge impact on business and accounting practices both in the United States, and overseas. One will remember that as a result of the financial scandals in the United States like[…..]

  • by Reading Time: 1 minute

    China cuts individual income tax on bank savings

    China’s State Council has announced that individual income tax on bank savings will be cut from 20 percent to 5 percent starting August 15, 2007. Income tax was leveled on personal bank savings on Nov. 1, 1999 as a means of encouraging consumption and investment, adjusting personal income and increasing national revenue. This reduction is an attempt[…..]

  • by Reading Time: 3 minutes

    Potential for withholding tax on repatriation of dividends?

    By Chris Devonshire-Ellis  July 24 – A question has been raised concerning an omission that has occurred within China’s new corporate income tax (CIT) law which could mean withholding taxes being levied on the repatriation of after-tax profits for overseas businesses with foreign invested enterprises in China. Not yet commented on elsewhere, (eagle eyed Dezan Shira &[…..]

  • by Reading Time: 2 minutes

    Housing fund contributions change for Beijing, Shanghai and Guangzhou

    Provincial tax authorities recently announced an amendment to the regulations that govern tax free contributions to basic pension funds, basic medical insurance, unemployment and housing funds (Cai Shui (2006) Circular 10). Effective July 1, 2007, provincial supervision bureaus have put in place new regulations on housing fund contributions for Beijing, Shanghai and Guangzhou. When it was issued[…..]

Showing 8 of 1123 articles