Other Briefings
China Industry Report: Jan 24
Jan. 24 – This is a regular series of relevant industry news from around China. Solar power Japanese solar modules maker Sun Dream Co. inked an agreement with Taiwanese Jumao Photonics Co. Under the terms of the contract Sun Dream will supply components to the Taiwanese company which will assembly the products and market them […]
Salary Reduction Under China’s Labor Law
By Chris Devonshire-Ellis Jan. 23 – With many businesses facing economic problems, the legal focus of business in China is shifting to an understanding of the implications of the new labor law, and specifically, its provisions for the reduction of staff salaries. The Labor Law is not specific on the reductions of salaries due to […]
China Releases New Business Tax Rule for Service Contracts
By Sabrina Zhang Jan. 22 – China’s State Administration of Tax (SAT) has passed a surprise amendment concerning the calculation of Business Tax (BT) effective January 1st. The new rule changes the BT levying principle and affects all overseas companies contracting labor and services to other companies or people based in China. The former BT […]
China’s Money Supply Posts Fastest Increase
Jan. 14 – The central bank announced that China’s money supply increased at the fastest rate in seven months as M2 was eased to boost the economy. M2 represents money and other items considered to be close substitutes for money. It is a vital economic indicator used to forecast inflation and is the broadest measure […]
China Promulgates Transfer Pricing Measures
Jan. 13 – The State Administration of Taxation promulgated the much-anticipated transfer pricing measures detailing the administrative rules for all special tax adjustments on Friday. These special tax adjustments, including cost sharing, thin capitalization, anti-avoidance, and transfer pricing documentation requirements, where first outlined in chapter 6 of China’s Corporate Income Tax Law. The new measures, […]
Dezan Shira’s Tax Network World’s Third Largest
Global 2008 revenues in excess of US$2 billion Jan. 9 – The Leading Edge Alliance, the global network of international accounting and audit firms that Dezan Shira & Associates is the China member of, has just been ranked as the third largest international association of independent accounting firms by the International Accounting Bulletin, the accounting […]
China Increases Export Tax Rebates
Jan. 5 – China’s Ministry of Finance announced that it will further increase tax rebates for exports including 533 hi-tech and machinery products beginning this year as its way of aiding the export market that has been hard hit by the global economic slowdown. Businesses exporting industrial robots and airplane navigation systems can now avail […]
China Eastern Stocks Fall after Share Sale is Expanded to RMB7 Billion
Dec. 30 – Shares of China Eastern, the nation’s third-largest carrier, dropped 3.9 percent in Hong Kong trading after expanding a discounted sale of new shares to its parent. According to Bloomberg News, the airline fell to HK$1.24 in this morning, after declining as much as 6.2 percent and gaining as much as 4.7 percent. […]
