Value added tax

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...

Germany's liability regulations for online marketplaces In the past years, thousands of vendors that are selling on marketplaces like Amazon or eBay, many of which are from China are not paying their VAT on the sale of in EU. The EU estimates that...

A new Foreign Investment Law and VAT rate reductions are among the legal changes announced at this year's meeting Every year about this time the National People's Congress (NPC) and the Chinese People's Political Consultative Conference meet to make...

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 ...

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...

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...

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...

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...

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...

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...