tax china

Ecovis Beijing: Upcoming cooperations with CCPIT

  ECOVIS Beijing has already worked successfully with CCPIT (China Council for the Promotion of International Trade) in the past. After today's business meeting with lawback (backed up by CCPIT) at ECOVIS Beijing, lawback and ECOVIS Beijin...
IIT-Law-China-Germany

Lunch talk: Individual Income Tax Reform – how law and regulations will affect foreign taxpaye...

Lunch talk with the German Centre: Individual Income Tax Reform – how law and regulations will affect foreign taxpayers in China   Wednesday, January 23rd, 12.00-13.30   On January 1st, 2019 the new Individual Income Tax (IIT) Law in...

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 ...
video

Only for a short time: China facilitates Fast-Track Company Liquidation

In the course of the reorganization of the tax authorities and their responsibilities, China's authorities want to make tax liquidations possible in a simplified procedure for the remaining weeks until the end of the year. The aim is to carry fewer o...
Tax Reform

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 ...
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...
Social Credit System China

China’s Social Credit System and Taxes

The Chinese government is pushing ahead with its social credit project, which evaluates the trustworthiness of every citizen and company using a points system. The aim is to record, evaluate, reward or sanction desired and undesirable behavior. Al...
Environment Protection Tax Law

China introduces New Environment Protection Tax Law

Starting from 1 January 2018, China levies taxes on industrial emissions and pollution. The Environmental Protection Tax Law which got approved by the Standing Committee on 25 of December 2016 is part of China’s 13th Five-Year Plan, which considers e...

New Deduction Rules for Social Insurance

Starting 1 July 2017, a pilot program that exempts the premium paid for qualified commercial health insurance from taxable income will be implemented nationally. This program has already been implemented in 31 cities, including Beijing, Shanghai, an...

Common Mistakes, and how to Avoid Them

Some of the most common mistakes our clients make, and how they can easily be avoided While every case we deal with is unique, some mistakes are more common than others. We recently audited a client’s Chinese branch and found some very common, and a...