Other Briefings
China’s New VAT Fapiao Requirements to Affect Taxpayers, Service Providers
The new fapiao policy, which will come into effect on July 1, 2017, will change the type of information taxpayers need to provide when obtaining a fapiao. It also specifies measures fapiao issuers (service providers) need to take to be compliant.
China’s Accounting Standards: Chinese GAAP vs. US GAAP and IFRS
The completion of annual statutory audits and settlement of all relevant tax liabilities are prerequisites for FIEs to distribute and repatriate their profits or dividends back to their home country. In this article, we explore the differences between China and the US’ accounting practices, and how to stay in compliance when conducting annual audit.
Individual Income Tax for Expats in China
In China, though individual income tax (IIT) is usually filed by employers’ HR behalf of employees in, both parties should be aware of tax thresholds, and implement salary planning to reduce tax liability. In this article, we give a general overview of how IIT works for foreign nationals working China.
Transfer Pricing Investigation in China: Understanding the Latest Adjustments
China’s State Administration of Tax has issued new regulation for transfer pricing and special tax investigation adjustment, which came into effect on May 1, 2017. In this article, we look at the change in scope of the regulation, and its impact on foreign enterprises.
China Announces US$55.2 billion in Tax Cuts
China’s State Council has approved RMB 380 billion (US$55.2 billion) worth of tax cuts for businesses and individuals, including streamlining of the VAT system. This article explores the various tax items being reduced, and the impacts for foreign investors.
Tax, Accounting and Audit in China 2017 – New Publication from China Briefing
Tax, Accounting, and Audit in China 2017 is now available for download in the Asia Briefing Publication Store. The guide offers a comprehensive overview of the major taxes that foreign investors are likely to encounter when establishing or operating a business in China, as well as other tax-relevant obligations.
China’s Tax Residency Certificate: Implications for DTA Benefits
Obtaining China’s tax residency certificate can be necessary for foreign companies are able to benefit from Double Taxation Agreements. Here, we look at the application procedure, considerations for foreign companies, and present a real case study to illustrate the process.
Calculating Taxes and Duties for Import into China
For foreign trading companies engaged in the business of selling (or import) to China, it is wise to be fully clear about the relevant tax issues before rushing into any sales contracts. The amount of import taxes and who would ultimately be liable for those taxes largely depends on how the sales contract is concluded between the foreign seller and the Chinese buyer.
