We explain China’s updated import and export tax rates and duties for 2021, and highlight key issues that foreign companies should take note of.
Special VAT e-fapiao are now being implemented in more regions and can be accepted by fapiao recipients across the country.
China’s State Taxation Administration issued a circular clarifying the specific deadlines for filing tax returns in 2021.
Foreign invested enterprises in China should note these common errors to optimize their internal finance processes and get the most out of their annual audit.
China is extending companies’ pretax deduction for advertising and business publicity expenses from January 1, 2021 to December 31, 2025.
China has optimized the prepayment of individual income tax by some taxpayers starting January 1, 2021. We discuss eligibility and calculation of IIT.
In this edition of China Briefing Magazine, we walk foreign businesses through the annual audit and compliance process from start to finish.
From January 1, 2021, several new accounting standards regarding revenue, leases, and financial instruments will apply to entities that have adopted CAS.