vat china

TAX Update – New Protocol to Sino-Swedish Tax Treaty

A new protocol to the 1986 Double Tax Treaty (DTT) between China and Sweden has been signed on June 5th, 2017, in Stockholm, Sweden. The protocol between the two countries includes exemption of Value Added Tax (VAT) for international transportation s...

Presentation: New VAT reform and other tax updates

    For further information contact: jakob.loibl@ecovis-beijing.com       Grace Shi   Grace Shi is a partner at ECOVIS Beijing China. She has over 12 years of experience in accounting, auditing, and tax advisory s...
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VAT (Value Added Tax) Reform to be Completed in May 2016

During the annual National People’s Congress meeting on March 5, Premier Li Ke Qiang announced in his speech of the government report that the VAT reform will cover the last few industries as of May 1 2016. The main points taken out of his speech are...
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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...
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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...
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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...
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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...
VAT Update China

Companies benefit from the new VAT Tax System Upgrade

Already since the beginning of this year, the Chinese government has promoted the upgraded version of the Value Added Tax (VAT) Invoice System, also called the “fapiao” system. A comprehensive and nationwide implementation of the newly recognized Gen...

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...