Corporate income tax (CIT) is one of the main taxes for businesses in China. In this article, we explain the legal basis for CIT, who it applies to, its rates, and how to calculate it.
The latest issue of China Briefing Magazine, Managing China’s Financial System, is out now and available for download from the Asia Briefing Publication Store.
More and more high-level sporting events are being held in China. These events, however, are subject to unique tax treatment. This article explores the tax requirements of foreign sporting events companies and the taxation of foreign athletes in China.
Value-Added Tax (VAT) reform in China has been fluid and on-going, but taxpayers note that the methods used to calculate VAT has remained comparatively steady. In this article, we explain the basics for calculating VAT in China for you and your business.
Chinese President Xi Jinping hinted at a new direction for tax reform during the 19th Party Congress, which ended last week in Beijing. Although the statements made during Xi’s speech were broad, and had little in the way of specifics, Xi’s speech could signal a new direction of reforms for China’s tax system.
In this article, we explore how individual income tax is calculated for foreign employees in China. The rules differ slightly from those for local nationals, and depend in large part on how much time one has spent in the country.
Acquiring VAT general taxpayer status is essential for companies in China to benefit from the VAT reform’s tax reductions. In this article, we outline the criteria for acquiring VAT general taxpayer status, and how to apply with government authorities.
Despite recent efforts to streamline the tax system, China’s tax system can be bewildering for foreign investors unaccustomed to its intricacies and idiosyncrasies. In this article, we examine why China’s tax system is so complex.