VAT

China’s Cryptocurrency and Blockchain Regulatory Environment

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...
VAt

Ultimate VAT guide for selling through online marketplace in Germany – Part 1

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...

Takeaways from China’s “Two sessions” in Beijing

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...

Webinar: Things e-commerce sellers need to know about German VAT

Webinar: Things e-commerce sellers need to know about German VAT Ten days left! The grace period for German VAT compliance for (non-EU) e-commerce sellers is ending!  On 1 August 2018, the German government endorsed a draft law of the "Act to pre...

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 ...

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...
VAT

Is Germany’s strict inspection on VAT reasonable? How should the enterpreises respond to that...

Germany intensifies its efforts to deal with China's electricity supplier to avoid the problem of value-added tax According to German newspaper Handelsblatt, Chinese companies have continued to evade VAT in the online trading market in Germany e-com...
VAt

Tax Update: New VAT Rates Starting From 1 May 2018

In the wake of China’s VAT reform, business has already benefited from savings worth 2.1 trillion RMB (270 billion EUR), according to the Chinese government. On 28 March 2018, the State Council announced three measures, which aim at further reduci...

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...

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...