We review case studies of companies that have applied for the pre-tax super deduction of R&D expenses to understand which projects qualify.
The IASB has amended the IFRS accounting standards to allow a temporary exception to reporting requirements for deferred taxes under the Pillar 2 model rules.
Hengqin New Area in Zhuhai, Guangdong launches preferential tax policies to spur economic growth and deepen integration with Macao.
Pre-tax deduction vouchers are a critical part of annual CIT reconciliation in China. We discuss key aspects that financial managers and auditors should be aware of.
The OECD has finalized implementation guidance for the 15% global minimum tax rate, which both mainland China and Hong Kong have agreed to. We discuss the latest guidance and impact on multinationals.
China is extending companies’ pretax deduction for advertising and business publicity expenses from January 1, 2021 to December 31, 2025.
China has specific compliance requirements for each channel the foreign invested entity may choose in order to make outbound payments.
Shanghai’s state and local tax bureaus have issued trial procedures applicable to headquarters in Shanghai that operate trans-regionally and pay CIT on a consolidated basis. It provides for the materials that these headquarters should submit for the filing of branches’ allocation proportion of CIT.