Tax & Accounting

CBRC Tightens Lending Policy

by

Aug. 24 – The China Banking Regulatory Commission is issuing guidelines effective from next month that slow down or even prevent banks from making new loans, in efforts to curb the excessive growth in consumer credit. The move comes against fears of creating a platform of bad debt. The new guidelines being drafted tighten capital […]

China Tax Bureau Clamping Down On Use of Fake Receipts

by

Aug. 19 – China’s State Administration of Tax appears to be concentrating efforts on curbing a rise in the use of faked receipts for businesses filing their monthly business taxes and reports to the local tax bureau. The use of false receipts, or fapiaos, to justify expenditure (and thus reduce income tax liability) has been […]

Tax Bureau Clarifies Investment Terms for Western Region

by

Aug. 19 – The State Administration of Tax has issued a circular to clarify the definitions set forth in the previous Caishui 202 regarding tax incentives for developments in China’s western regions, including Chongqing, Sichuan, Guizhou, Yunnan, Tibet, Shaanxi, Gansu, Qinghai, Ningxia, Xinjiang, Inner Mongolia and Guangxi. The SAT clarifies that the term “newly established […]

China Revises Advertising and Promotional Expenses

by

Aug. 18 – China’s Ministry of Finance and the State Administration of Taxation have released a circular on the qualifying deductions for advertising and promotional expenses (A&P Expenses) for corporate income tax computations beginning January 1, 2008 to December 31, 2010. For manufacturers of cosmetic, pharmaceutical and beverage products, excluding alcoholic beverages, the annual deduction […]

New Stamp Duty Policy in Guangdong

by

GUANGDONG, Aug. 13 – The Guangzhou local tax bureau issued a notification last July 16 authorizing it to check and collect stamp tax beginning August 1. The period of the rate paying is one month, and the tax payer should be clarify and pay the tax before the 15th next month.

Tax Breaks for Tobacco Promotion End

by

Aug. 12 – China’s Ministry of Finance and the State Administration of Taxation said in a circular that promotional spending by tobacco firms will no longer be eligible for tax breaks, effective until 2011. By that time, tobacco promotion in the country will already be banned. China has been trying to find ways to boost […]

Shanghai Petitions Currency Rule Changes to Attract More Foreign Private Equity Firms

by

SHANGHAI, Aug. 6 – Local government officials are petitioning that restrictions on private-equity firms be changed to encourage more foreign private-equity firms to open offices in the Pudong financial district. Director-general of Shanghai’s financial-services office, Fang Xinghai, told the Wall Street Journal that the city wants foreign private-equity firms that raise majority of their capital […]

CBRC to Restrict Chinese Interbank Bond Holdings

by

Aug. 4 – The China Banking Regulatory Commission is set to tighten banks capital rules by excluding subordinated bonds sold to other banks from their capital base. The regulator has sounded out banks concerning the plan, according to the South China Morning Post, who quoted a spokesman as saying “the CBRC wants to restrict bank’s […]

Showing 8 of 1299 articles
Events in China All Events

Our free webinars are packed full of useful information for doing business in China.

Related reading
  • Human Resources and Payroll in China 2023
  • An Introduction to Doing Business in Hong Kong 2023
  • Investing in China's Greater Bay Area: Tapping into Long-Term Opportunities
  • An Introduction to Doing Business in China 2023
  • Investing in China’s Healthcare Sector
Back to top