Other Briefings
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. […]
China to Establish Social Security Fund
Dec. 23 – China announced plans Monday to establish a social security number system for the welfare of its citizens. State media reported on Tuesday that the draft of the social insurance law was discussed by the Standing Committee of the 11th National People’s Congress, the country’s top legislature, on Monday. According to the draft, […]
AmCham Shanghai Launches 2008 China Business Report
SHANGHAI, Dec. 17 – The American Chamber of Commerce in Shanghai launched their 2008 China Business Report today, based on an online survey answered by 238 U.S.-based companies doing business in the country. The survey, conducted prior to the eruption of the global credit crisis in September and October of this year prior, provides a […]
