Other Briefings
China’s New IIT Law: Prepare for Transition
China passed a new individual income tax (IIT) law on August 31, marking a significant reform to tax policy. In this article, we look at the major changes and implications of the new law.
China Tax Cuts Worth RMB 45 Billion to Support Economy Amid Slowdown
On August 30, China’s State Council announced RMB 45 billion (US$6.59 billion) worth of tax cuts for businesses and investors.
How to Apply for CIT Incentives in China
China offers a number of preferential corporate income tax policies for businesses operating in the country. These preferential tax treatments, however, do not automatically apply – businesses must first determine their eligibility and carry out the appropriate steps to benefit from the incentives.
How to Save VAT on Cross-border Transactions in China
Value-added tax (VAT) applies to goods and services in China. However, zero-rated transactions and VAT-exempt transactions are two ways in which the taxpayer can benefit from VAT relief.
Intra-group Service Fee Treatment in China
Tax authorities in China heavily scrutinize intra-group service fees paid by Chinese enterprises to the overseas-related parties to regulate tax avoidance and profit shifting.
IIT Reform in China: What’s in the Draft Law?
China has unveiled a series of Draft Amendments to its IIT Laws, which are intended to boost consumption while combating the effects of rising living costs.
Preferential CIT Policies for Small and Low-Profit Enterprises in China
China’s State Administration of Taxation (SAT) clarified its preferential corporate income tax (CIT) policies for small and low-profit enterprises in an announcement released on July 13.
Best Practices for Year-end Transfer Pricing Adjustments in China
When related party transaction deviations are found in a year-end review, tax professionals will voluntarily make precautionary adjustments to minimize the risk of being investigated by the tax authorities.
