Value added tax
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 ...
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...
Calculation Of VAT & Surcharges In China
Do you know the calculation of VAT (Value Added Tax) and surcharges in China? ECOVIS Beijing explains how each of these taxes is calculated and how it affects your price calculation.
SMALL-SCALE & GENERAL VAT TAXPAYERS
Companies are divided in...
VAT in China Part 4
When a foreign invested company in China is lacking on money, the foreign headquarter often would like to transfer cash in order to keep the liquidity. However, what sounds like an easy bank transfer, in reality, turns out to be a complex subject. In...
VAT in China Part 1
Fapiaos
The Chinese VAT system is similar in many aspects to most Western country´s VAT systems. Who is well familiarized with the international standards, often also knows the right procedure in the Chinese system. In both cases the VAT will be cha...
VAT in China Part 2
Importation VAT
Same as for the EU, in China apart of the selling of products, the import of products is also subject to VAT. In opposite to the normal VAT this so called Importation VAT is an excise tax which is subject to the custom tax law. There...
VAT in China Part 3
The VAT reform in China: What has changed since 1st of August 2013?
Chinas Value Added Tax (VAT) reform is executed since August 2013 everywhere In China. On services in the transportation sector and on so called modern services there is no Busin...
Less bureaucracy! No VAT general tax payer approval necessary
On February the 24th 2015, the State Council of the People’s Republic of China issued A Decision on Matters of Cancelling and Adjusting Batches of Administrative Approval Items (“the Decision”).
The Decision covers 5 batches of administrative approv...
VAT China – How does it work for inter-company services
By Richard Hoffmann, ECOVIS Beijing
The following email inquiry from one of our readers will bring light into the darkness of pilot services applicable to VAT in China. A big foreign company group “The Group”, faces increasing inquiries from withi...