Tax & Accounting

Textile Tax Rebate to Increase 15 Percent

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Feb. 5 – China will increase the tax rebate rate for textile and garment exports to 15 percent from the previous from 14 percent in an effort to support the textile industry and help exporters reduce costs. The State Council did not specify when the new tax rebate rate will be applied. This is the […]

China Approves Tax Breaks and Subsidies for Service Outsourcing Industry

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Feb. 3 – The State Council has approved tax breaks and subsidies to boost the growth of China’s service outsourcing industry. The measures will also include a series of tax and fiscal policies and intellectual property rights protection, reports Xinhua. Businesses dealing with information technology, training, production materials procurement, logistics, and advertising are qualified to […]

China Industry Report: Jan. 28

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Jan. 28 – This is a regular series of relevant industry news from around China. Wind power Bowen, a wholly-owned subsidiary of China’s CIAM Group Ltd. bought 45 percent of Huaneng Shouguang Wind Power for RMB84.03 million. U.S. Navajo Wind Energy Corp. said it had secured a line of credit financing for up to US$2.5 […]

China Industry Report: Jan 24

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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

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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

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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

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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

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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, […]

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