News from China

Latest

Ecovis Beijing wishes you a happy Easter!

We wish our customers and partners a happy Easter. Our Heidelberg office will be closed on Good Friday and Easter Monday (April 19th and 22nd), the offices in Beijing and Tianjin will be available for you as usual.

Update: Six-Year-Rule and How to Calculate Your Length of Stay in China

On 16 and 17 March 2019, the Chinese Ministry of Finance and the State Tax Administration published two announcements containing guidelines for non-domiciled taxpayers under the new IIT Law, which entered into force in January 2019. The announcements...

Video: From Work Visa to Termination – China Labor Law Questions

Do you need information about terminating contracts? Or advice on Chinese Labor Law? Please find in our video the answer to the most asked questions about this topic. Find out the steps you need to take in order to start working in China. Hence, how...

Tax

Update: Six-Year-Rule and How to Calculate Your Length of Stay in China

On 16 and 17 March 2019, the Chinese Ministry of Finance and the State Tax Administration published two announcements containing guidelines for non-domiciled taxpayers under the new IIT Law, which entered into force in January 2019. The announcements...

China’s Cryptocurrency and Blockchain Regulatory Environment

China’s Cryptocurrency and Blockchain Regulatory Environment 1. Background Prior to 2017, China had the world’s largest cryptocurrency market—with 80% of bitcoin, the world’s leading digital coin, transactions conducted in yuan1. Despite clampdown...

Reductions in Corporate Income Tax (CIT) and VAT for Small Businesses

It’s a good start into the new year for small and micro businesses in China: Following a State Council executive meeting on January 9th, 2019 the Chinese government introduced a new set of inclusive tax cuts for small and micro businesses. After the ...

Case Studies

Case Study: Internal Control Review for subsidiaries in China

What is an Internal Control Review (ICR)? The goal of an ICR is answering to the question whether an internal control is established and sufficiently executed in a company. The main emphasis herein relies on the specific management and control proc...
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 ...

Internet conference in Wuzhen: the future of the Chinese Internet?

The 4th “World Internet Conference” took place In Wuzhen, near the city of Shanghai. Over the course of four days, 1500 attendants from 80 countries discussed the future of the Internet, including topics such as internet control, technological innova...

Legal Service

Video: From Work Visa to Termination – China Labor Law Questions

Do you need information about terminating contracts? Or advice on Chinese Labor Law? Please find in our video the answer to the most asked questions about this topic. Find out the steps you need to take in order to start working in China. Hence, how...

China’s Cryptocurrency and Blockchain Regulatory Environment

China’s Cryptocurrency and Blockchain Regulatory Environment 1. Background Prior to 2017, China had the world’s largest cryptocurrency market—with 80% of bitcoin, the world’s leading digital coin, transactions conducted in yuan1. Despite clampdown...

Austrian Chancellor visits China: Richard Hoffmann talks about contract law

On the occasion of the visit of the Austrian Economic Mission with Austrian Chancellor Kurz to Beijing, Richard Hoffmann speaks at a workshop on the legal aspects of third market cooperation on contract law. China's "Belt and Road Initiative" streng...

Accounting & Audit

video

Webinar: How to handle late payments in China

Late payments are a widely spread issue in China affecting both domestic and foreign businesses. They especially have a severe effect on small businesses, as they have more limited access to financing. At the same time, they also have limited bargain...

Successful year end liquidation case

As we promised a few weeks ago Ecovis can make the tax liquidation process fast, simple and transparent. Normally tax liquidations in China can be complex, time consuming and take between four up to 24 months depending on the preparation. We have be...

Is your firm ready for 2019?

Now is the time to check if your firm is ready for 2019 General Data Protection Rule (GDPR) Compliance   Is your firm compliant with the European Union’s General Data Protection Rule (GDPR)? The GDPR extends its protection to data of all individu...

Investments

Draft Foreign Investment Law: China promises security to investors and businesses

Surprisingly prompt draft of the first Chinese law on foreign investment A draft of China's new and first foreign investment law has recently been published and is available for public inspection and comment. According to analysts, critics and th...

FinTech: Exciting business opportunities for Chinese firms in Lithuania

FinTech, short for Financial Technology, has grown from being a term for the technology utilized by financial institutions to an umbrella term for technological innovation in the financial sector, including more consumer-oriented services. Lithuani...

FOCAC Summit Beijing 2018

FOCAC is the Forum of China –Africa Cooperation that is held every three years alternatively in China or an Africa nation. FOCAC focuses on reinforcing the China-Africa international relations, security and investments. Last week on 3r...