Of interest to all foreign investors in China, this issue deals with handling your 2011 accounts, including annual compliance procedures, license renewals, and handling tax deductible expenses, corporate and individual income tax filings for 2011 income
Jan. 10 – The new issue of China Briefing Magazine, titled Annual Compliance for FIEs, is out now and immediately available as a complimentary PDF download on the Asia Briefing Bookstore.
In China, January and February bring New Year banquets, transportation chaos…and annual compliance procedures.
Prior to distributing and repatriating profits, foreign-invested enterprises (FIEs) must complete annual compliance, involving an audit, tax filing and inspection. These procedures are not only required by law (and completing them improperly could lead to fines), but are a good opportunity to conduct an internal financial health check.
In this magazine, we take you step-by-step through this process for representative offices, and for joint ventures, wholly-foreign owned enterprises, and foreign-invested commercial enterprises.
Closely connected to the annual compliance process are the topics of tax deductions and IIT calculations (especially for expatriates). In the second and third article of this issue, we overview both of these topics, clarifying what is tax deductible and the “who and what” of IIT for expatriates.
In this issue:
Annual Compliance for FIEs is out now and immediately available as a complimentary PDF download on the Asia Briefing Bookstore.
Dezan Shira & Associates is a boutique professional services firm providing foreign direct investment business advisory, tax, accounting, payroll and due diligence services for multinational clients in China, Hong Kong, India, Singapore and Vietnam. For further information on annual compliance procedures in China, please email firstname.lastname@example.org.
Doing Business in China
Our 156-page definitive guide to the fastest growing economy in the world, providing a thorough and in-depth analysis of China, its history, key demographics and overviews of the major cities, provinces and autonomous regions highlighting business opportunities and infrastructure in place in each region. A comprehensive guide to investing in the country is also included with information on FDI trends, business establishment procedures, economic zone information, and labor and tax considerations.
The China Tax Guide (Fifth Edition)
This popular book, fully updated with all recent tax changes and amendments, details all taxes in China affecting businesses and individuals, how to calculate the amounts due, tax registration and filing procedures, tax minimization techniques, and claiming VAT rebates. It also details good financial management techniques, handling negotiations with the tax bureau and annual audit and compliance procedures.
The Asia Tax Comparator
Asia Briefing devotes this issue of China Briefing to providing a practical comparison of taxation throughout Asia. In particular, this issue takes a look at the taxes most applicable to foreign businesses and individuals in Asia, i.e., corporate income tax, value-added tax, goods and service tax, standard tax on dividends and individual income tax.
Calculating Individual Income Tax on Annual Bonus in China
Getting Cash Money RMB Out of China
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