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Focus China

News & Information for Investors, Entrepreneurs and Businessmen from Tax Consultants, Accountants, and Lawyers

Recent Articles

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China shortens the negative list again

In a recent step further in opening up the Chinese market, the National Development and Reform Commission (NDRC) and the Chinese Ministry of Commerce (MOFCOM), announced a shortened “Negative List” on June 30th, 2019. This list is known to govern...
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China’s Cryptocurrency and Blockchain Regulatory Environment

China's cryptocurrency market - We give you an overview of legal regulations and tax implications in terms of Bitcoin-related business. (more…)
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Legal update China: new laws and regulations in 2019

Regulatory change often comes quickly in China – and the year ahead will be no exception. Some major legal changes already came into effect on January 1st, 2019, whilst others are still in the pipeline. (more…)
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Data Protection in China

On 1 May 2018, new standards will come into force that further clarifies the data protection rules of the Cyber Security Act. (more…)
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Accounting in China

The Chinese Generally Accepted Accounting Principles (China-GAAP) are similar to the International Financial Reporting Standards (IFRS), but differ from the American accounting system (US-GAAP). Most foreign companies are unaware of these differences, and are, therefore, running the risk of non-compliance....
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China’s New Point System for Expats

On 9 September 2016, the State Administration of Foreign Experts Affairs published the reform of the current work visa system for foreigners in China. The changes will merge the various regulations for foreign specialists with the normal application procedures. The...
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The Annual Compliance Review – Audit in China

The deadline for the Annual Compliance Review in China is on 31 May. Although it seems that there is still a long time until the deadline, there is an incredibly huge amount of work to do before you can hand...
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China: Transfer Pricing Regulation Update

On 13 July, the State Administration of Taxation issued a notice related to the long-expected adjustments in regulations of transfer pricing. With the announcement [2016] No.42, the previously valid “Implementing Measures for Special Tax Adjustments (for Trial Implementation)”, (Guo Shui...
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Introduction to the United States tax compliance act of foreign accounts

1. What is FATCA? The Foreign Account Tax Compliance Act is a U.S. tax law that was enacted in 2010 – Final U.S. Treasury regulations on FATCA were issued on January 17, 2013. The regulations launched on July 1, 2014,...