Non-resident taxpayers in China claiming tax treaty benefits need to check against new compliance requirements that will become effective January 1, 2020.
China has increased additional VAT deductions in the life services industry from October 1, 2019 to December 31, 2021. We explain the eligibility criteria and applicability.
China’s new VAT policy took effect on April 1, 2019 and aims to boost economic activity in certain sectors by lowering VAT rates and increasing VAT credits.
Tax, Accounting and Audit in China 2019-2020 is now available for download on the Asia Briefing Publication Store.
Businesses in China can continue to claim input VAT credits for domestic transport expenses incurred by its contracted employees and dispatched staff.
General industry and advanced manufacturing industry taxpayers in China will benefit from new policies related to the refund of end-of-period VAT credit. We unscramble the new policy announcements here.
China’s new IIT regime includes revised tax brackets, expanded deductibles, and new residency rules for those without domicile in the country.
Profit repatriation from China is a concern for foreign companies with subsidiaries in the country. We discuss the common repatriation methods and key considerations for businesses.