Richard Hoffmann

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Richard Hoffmann is Consultant, Lawyer and Partner ECOVIS Beijing. He obtained an honor's degree in law in Germany and worked for various prestigious law firms in Germany, America, and China. Richard has published more than fifty articles in international magazines, frequently speaks at high profile events in China and abroad and is often invited as a legal expert by international TV and radio stations such as CCTV or Reuters.

Starting a business in Germany (1): VAT and Input Tax

When it comes to starting a business, there are many questions and issues that need solving such as company’s legal form and structure, business operations plan, marketing strategy, investment funding, cost management, etc. Besides that, it is ta...

IIT Reform: Saving money with deductions – draft rules released

China’s new Individual Income Tax law was passed at the end of August. It is a major overhaul of the tax system, as outlined here, and will bring major changes both to taxpayers and employers as the withholding agents, with potential savings for tax ...

No CFO? Why not hire a Virtual CFO

There are not too many differences between a CFO and a virtual CFO, however, those few differences are quite large and are the make or break sometimes of a company. What is a virtual CFO and what is their responsibility? A virtual CFO is...

New IIT Law: Will it lead to an Exodus of Foreign Executives working in China?

Tax Notes International looked at the new tax residency rules under the reformed Individual Income Tax (IIT) law and how they could affect expatriates working in China. The article looked in particular at the potential taxation of worldwide income an...

Wishing all our clients, partners and friends in China a wonderful Golden Week holiday!

Wishing all our clients, partners, and friends in China a wonderful Golden Week holiday! Our offices in Beijing and Tianjin will be closed from October 1st to 7th, 2018, due to the National Holiday week in China. We will be available for you again...
exemption

Financial reform for technology-oriented SMEs

Since 1st January 2018 high-tech enterprises, technology-oriented small- or medium-sized enterprises (SME) and small low-profit enterprises are entitled to further tax reliefs. According to the Chinese ministry of finance, two major measures have bee...
GDPR

GDPR(EU) Investigation

May 25th, 2018, sparked a new era for data protection in the European Union (EU), marking the date on which the General Data Protection Regulation (GDPR) (EU) came into effect. The GDPR is a regulation for EU law on data protection and privacy for al...
company liquidation

Case Study: Tax Liquidation in China – including a Step-by-Step-Guide for the Liquidation Process

The tax liquidation process in China is a complicated and sometimes time-consuming effort that can take at least 4-6 months or up to 24 months. The duration depends mainly on the right preparation beforethe actual liquidation process starts. Just as ...
Double Taxation Treaty

Individual Income Tax (IIT) Reform: New Tax Law Confirmed

On Friday, August 31st the Standing Committee of the National People’s Congress confirmed the amendments to the Individual Income Tax law, which will fully take effect on January 1st, 2019. This is the most significant tax reform in many years with s...
data protection

GDPR – New rules affect business in global market(Youtube)

What is GDPR and how does it impact your business in China? The China Enterprise Compliance Promotion Alliance and the China Council for the Promotion of International Trade have organized one of their events in Beijing and have invited our ECOVIS Be...