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Shenzhen Issues FAQs on Tax Exemption Policy for Small and Micro-Sized Enterprises

China Released the “Circular on Temporary Exemption of Value-added Tax (VAT) and Business Tax (BT) for Certain Small and Micro-Sized Enterprises (caishui [2013] No.52, hereinafter referred to as the ‘Circular’)” on July 29, which stipulates that certain small-scale VAT taxpayers and BT taxpayers with monthly sales amounts not exceeding RMB20,000 may be temporarily exempted from VAT and [...]

Aug 15 2013, 8:56 am | Posted in Taxation | Read More »

China Issues Announcement on Corporate Income Tax for Non-Resident Enterprises

China Issues Announcement on Corporate Income Tax for Non-Resident Enterprises

China’s State Administration of Taxation (SAT) released the “Announcement on Issues Concerning Corporate Income Tax on Labor Services Provided in China by Non-resident Enterprises (Announcement [2013] No. 19, hereinafter referred to as the ‘Announcement’)” on April 19, which is scheduled to take effect on June 1, 2013. Detailed information can be found below. For the [...]

May 15 2013, 8:59 am | Posted in Taxation | Read More »

China Clarifies Corporate Income Tax Treatment for Non-Resident Enterprises Under VAT Reform

China Clarifies Corporate Income Tax Treatment for Non-Resident Enterprises Under VAT Reform

China’s State Administration of Taxation (SAT) recently promulgated an announcement concerning the corporate income tax (CIT) treatment for non-resident enterprises in the value-added tax (VAT) pilot reform (SAT Announcement [2013] No. 9, hereinafter referred to as the “Announcement”). The Announcement came into effect on February 19, 2013. The purpose of the Announcement is to clarify [...]

Mar 8 2013, 10:34 am | Posted in Taxation | Read More »

Subsidies to be Offered to Balance Out Implemented Tax Reform

Subsidies to be Offered to Balance Out Implemented Tax Reform

Shenzhen have started to offer financial subsidies to enterprises with tax burdens that have increased since the implementation of the tax reform last November 1st. the reform took the place of the city’s business tax with VAT for transportation industries and several service industries in effort to lessen their tax burdens. But some companies especially [...]

Nov 9 2012, 10:07 am | Posted in Taxation | Read More »

Shenzhen Issues Guidance on General Taxpayer Recognition

Shenzhen Issues Guidance on General Taxpayer Recognition

The Shenzhen Municipal Office of the State Administration of Taxation (SAT) issued the “Circular on the Relevant Matters Concerning the Recognition of General VAT Taxpayers under the Value-Added Tax to Business Tax Pilot Conversion (shenguoshuihan [2012] No.227, hereinafter referred to as ‘Circular’)” on September 4, 2012, clarifying issues regarding general taxpayer recognition under its value-added [...]

Sep 13 2012, 7:54 am | Posted in Taxation | Read More »

VAT Pilot Reform to be Implemented in Beijing and Other Regions from September

VAT Pilot Reform to be Implemented in Beijing and Other Regions from September

On July 31, 2012, the Ministry of Finance and the State Administration of Taxation issued the “Notice on Commencing the Business Tax (BT) to Value-added Tax (VAT) Conversion Pilot Reform in the Transportation and Certain Modern Services Industries in Beijing and Seven Other Provinces and Municipalities (hereinafter referred to as the ‘Notice’)”. The pilot regions [...]

Aug 13 2012, 8:07 am | Posted in Taxation | Read More »

I Don’t Mind Paying Some Tax (But No More Than I Need To!)

I Don’t Mind Paying Some Tax (But No More Than I Need To!)

The attractions of working offshore, in China and other overseas locations, include; adventure, new cultures and hopefully large amounts of money. No doubt there are other attractions too that slip my mind for now. With big money comes the problem of either; paying high taxes back home, or leaving cash deposits in banks with negligible [...]

Aug 9 2012, 1:19 pm | Posted in Taxation | Read More »

China Issues Circular Concerning the Improvement of VAT Control System

China Issues Circular Concerning the Improvement of VAT Control System

In order to alleviate the burdens on taxpayers, China’s National Development and Reform Commission (NDRC) released the “Circular of the NDRC on Charging Policies Concerning the Improvement of VAT Control System (fagaijiage [2012] No.2155, hereinafter referred to as ‘Circular’)”on July 18, which provides four opinions regarding the price for special equipment related to the VAT [...]

Aug 3 2012, 8:35 am | Posted in Taxation | Read More »

Value Added Tax Program to be Implemented in Shenzhen

Value Added Tax Program to be Implemented in Shenzhen

Shenzhen is one of the ten cities implementing a pilot program on the value added tax (VAT) starting August 1stuntil the end of the year. This means that several businesses will be seeing tax cuts. The value added tax will also replace business tax in the modern services and transportation industry. First launched in January [...]

Jul 27 2012, 8:41 am | Posted in Taxation | Read More »

China Clarifies Pre-Tax Deduction Policies for Advertising and Promotional Expenses

China Clarifies Pre-Tax Deduction Policies for Advertising and Promotional Expenses

China’s Ministry of Finance (MOF) and the State Administration of Taxation (SAT) jointly released the “Circular Regarding Pre-tax Deduction Policies on Advertising and Business Promotion Expenses (caishui [2012] No.28, hereinafter referred to as ‘Circular’)”on May 30, which is retroactively effective from January 1, 2011 and will remain in effect through December 31, 2015. The purpose [...]

Jun 26 2012, 8:38 am | Posted in Taxation | Read More »

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