tax

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...
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...

Stuttgart: Employee Assignments to China

Employment contracts, income tax reform and insurance coverage The Chinese government is currently planning the largest income tax reform in seven years. What impact will the new regulations have on the employment of expatriates in China? What gener...

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 ...

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...
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...
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...
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...

New provisional VAT regulations

On Friday, December 1st, 2017, China's State Council announced revisions of the provisional regulations on VAT. The new regulations became effective immediately. The VAT reform is a comprehensive project of the Chinese government to gradually abolis...