Other Briefings
Shanghai to Offer Perks for Expat Finance Professionals
SHANGHAI, Jun. 26 – The local government is set to launch a program that will give foreign finance specialists incentives to work in Shanghai including lowered taxes, reports Shanghai Daily. The financial talent award is just one of the government’s policies aimed at turning Shanghai into an international financial and shipping hub by 2020 “We […]
More Export Tax Cuts Announced for Next Month
Jun. 23 – China will implement more tax cuts next month to help the struggling export market. The substantial cuts will cover around 100 categories of goods that include fertilizers and agricultural products. One example of a deep tax cut is the discount on phosphate fertilizer now set at 10 percent from the previous 75 […]
Higher Tobacco Taxes Imposed
Jun. 22 – China’s Ministry of Finance and the State Administration of Taxation (SAT) has announced higher taxes on tobacco products to increase state revenue. Cigarette cartons that cost RMB70 or more will be taxed from 45 percent to 56 percent while cartons costing less than below RMB70 will be taxed from 30 percent to […]
Beijing Eases Foreign Investment Rules for Chinese Companies
Jun. 11 – Beginning August 1, Chinese companies can now use their foreign exchange funds or buy from the state reserve to fund overseas ventures; easing rules for overseas investments. According to the State Administration of Foreign Exchange (SAFE), previously only large multinational companies were allowed to use their forex funds to lend to overseas […]
Gov’t Wants Censor Software on All PCs Sold in China
Jun. 8 – Beijing is planning to require that all personal computers sold in the country starting July 1 include preloaded software that blocks access to websites deemed inappropriate by censors. The software whose name translates to “Green Dam-Youth Escort” in English would connect PCs with a database of banned sites then block access to […]
New Issue of China Briefing Examines Repatriating Profits Out of China
Jun. 1 – The June issue of China Briefing magazine is online and available for download (complimentary subscription available). At the end of the day, it’s all about making money, and that is where sound strategic planning for maximization and repatriation of profits becomes so important in China. China’s business and withholding tax regulations can […]
Guidelines for Managing Large Enterprise Tax Risk Released
Jun. 1 – China’s State Administration of Taxation released a guideline last month for how large enterprises should manage tax risks in the current economy. Released on May 5, Guoshuifa (Tax Circular) No. 90, “China SAT Guide for Large Enterprises to Manage Tax Risks,” provides guidance for large enterprises regarding their overall corporate tax compliance […]
Shanghai to Subsidize More Environmentally Friendly Cars
SHANGHAI, Jun. 1 – The local government is encouraging more people to replace their cars and trucks with more environment-friendly models by giving average subsidies of RMB5,000 starting today until April 30, 2010. The measure is part of the city’s efforts to ease pollution and help the local economy for the coming Shanghai 2010 World […]
