Facebook XING Twitter RSS-Feeds
Ecovis Deutschland Ecovis global Ecovis China Ecovis Blogs Suche Social Media Newsletter

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. This article intends to offer you a brief introduction to the most basic Chinese accounting […]

Read more...

Summarized changes for you implied in the business tax to value-added tax changes


As had been shared earlier this month once by our Ecovis Beijing office, Premier Li Keqiang on 5 March, introduced the government report and with it the announcement that value-added tax (VAT) is going to completely replace business tax (BT) in 2016 in China. The measures’ aims: To bring simplicity and equality by avoiding different […]

Read more...

Tax deductibles of R&D expenditures in China


The “Law of Enterprise Income Tax” and its “Implementing Regulations” provide that the R&D expenditures incurred for the purpose to develop new technologies, new products and new crafts, can be subject to 50% more additional deduction after being deducted in full amount in light of actual situation.

Read more...

Accelerated Depreciation of Fixed Assets


According to the decision of the State Council on September 17, 2015 the Ministry of Finance and State Administration of Taxation jointly issued the “Circular on Further Improving the Enterprise Income Tax Policies relating to the Accelerated Depreciation of Fixed Assets” (Cai Shui [2015] No. 106) (hereinafter “Document No. 106”). Furthermore, on September 25 the […]

Read more...

Five reasons for outsourcing bookkeeping in China


Outsourcing your bookkeeping can help running your business more effectively and enables you to focus on the core competencies of your company. In addition, subcontracting a professional accounting firm for providing bookkeeping or payroll processing can increase your profitability, reduce legal risks and solve compliance problems with overseas connected companies. This article explains five reasons […]

Read more...

Import & cross border payment solutions with 3rd parties in China – A Case Study


Companies importing products to China often face a complex set of payment rules. We did a case study about a previous clients issues concerning cross border payment.

Read more...

Buy Assets Now to Save Taxes – The New “Shortened Depreciation”


By Grace Shi, ECOVIS Beijing China By adopting the new shortened depreciation method, companies in certain industries can ease the financial burden of asset acquisition.

Read more...

Accelerated depreciation of fixed assets, scope is expanded


By Yi Wang, ECOVIS Ruide China In October 2014, Ministry of Finance promulgated “Circular on Improving the Enterprise Income Tax Policies relating to the Accelerated Depreciation of Fixed Assets” (Cai Shui [2014] No.75). In November 2014, State Administration of Taxation promulgated “Announcement of the State Administration of Taxation on Issues concerning the Tax Policies for […]

Read more...

How Capital Verification Can Help You Pick the Right Customers and Avoid Losing Money!


By Richard Hoffmann, ECOVIS Beijing With an increasing rate of foreign companies coming to China seeking trade opportunities, a horizon of concern arises. Most concerns are related to the ability to pay and reliability of the potential stakeholders. Capital Verification is an instrument introduced by the Chinese government which helps to estimate the creditworthiness of […]

Read more...

Payroll and Bookkeeping: Evaluating the Decision to Outsource


By Richard Hoffmann, ECOVIS Beijing As you develop your company, consider outsourcing payroll and bookkeeping in the first years of your business. In our new brochure, the decision to outsource is evaluated considering that a third party can ensure comprehensive and compliant reports, provide cost effective solutions, optimize a company’s taxes, and provide the protection of independent […]

Read more...