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Tax policy
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...
New Chinese-German tax agreement –
The State Administration of Tax (”SAT”), has released Tax Circular No. [2016]37 and the Interpretation of double agreement on taxation between China and Germany ("DTT") on 16 June 2016. Tax circular 37 informs the new DTT will be in effect...
New Tax Regulations for Cross-Border E-Commerce
In March 2016, the Chinese government issued two new regulations, which have changed the taxation of imported products bought online from businesses abroad (B2C) via e-commerce platforms. Previously, cross-border online purchases for personal use were mainly treated as individual postal...
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)...
From April 1st: Reduced Tax declaration periods for Small-Scale & Low Profit Taxpayers
The State Administration of Taxation (SAT) Announcement No. 6 of 2016 on "Reasonably Reducing the Tax Declaration Times for Taxpayers " defined that small-scale VAT taxpayers as well as small-scale enterprises shall only make quarterly payments of VAT starting from...
VAT 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 1st, 2016. The main points...
Tax reduction aims at boosting service trade
China attempts to increase the service and merchandise trade by facilitating access for overseas companies and by providing a tax reduction for technology providers. (more…)
Tax update – VAT (Value Added Tax) Reform to be Completed in May 2016
During the National People’s Congress meeting on March 5th, Premier Li Keqiang held a speech on the government report. He announced that the upcoming VAT reform will cover the last few industries which were not included yet. The main points...
China: 2016 will bring an increased focus of authorities on transfer pricing and tax-avoidance
As ECOVIS Ruide was covering last year in our March issue of the our newsletter, on March 18th, 2015 the State Administration of Taxation (SAT) announced a new regulation concerning Enterprise Income Tax (EIT) Issues. Specifically the Disbursement of Expenses...
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...
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...
Individual Income Tax – Part Two
This is the second part of our two-part article series on individual income tax (IIT) in China. In the first part we gave an overview on how individual income tax liability is determined for individuals in China. In this part we...
Individual Income Tax – Part One
In this series of two articles we would like to share some information about a topic we deal with in our consulting work on a daily basis: Individual income tax. This affects every expat living and working in China on...
Update: To which extent can international companies operate in China without being forced to pay taxes?
Update: To which extent can international companies operate in China without being forced to pay taxes? Service provision and product order without having an office in the P.R.C. (more…)
Taxlink experts are discussing China´s tax system and economic growth
In the online-workshop China´s Tax System and Economic Growth, the tax and law experts Erich Chai, Kristina Koehler-Coluccia, Steve Dickinson and Grace Shi came together to discuss on what in their opinion are the greatest issues for enterprises which are...
Update Infographic: Tax Burdens Around The World
Are you living in a tax paradise? This tax burden cheat sheet, made in collaboration with ECOVIS offices worldwide, gives an overview of the amount of deductable expenses, income taxes, social security and other taxes around the world. Find out...
IIT Update
Don´t miss the deadline! Prepare now! Starting form 2006, individuals whose annual income exceeds RMB120,000 will be required to file an annual tax return in the local tax bureau. (more…)
VAT in China Part 4
VAT exemption for intercompany contracts 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...
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...
VAT in China Part 2
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...
VAT in China Part 1
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...
STARTUP HYPE IN CHINA
China is currently experiencing a startup hype. In this article we will update you about the recent government developments in China and analyze different types of possible investments in the startup sector. (more…)
In 4 Steps to the Annual Compliance Review
Doing it right! How to do your Annual Compliance Review in 4 steps: The Annual Audit, the Annual Foreign Currency Filing, the Annual Tax Audit and Clearance and Report of Enterprise Information Publicity. (more…)
Deadlines for the Annual Compliance Review
As for the annual compliance review: it is not hard work but it needs to be done right. Do not see it only as an additional burden for your company. It is a great chance to do a small “health...
Abgabefristen für den Jahresabschluss auf einen Blick
Die Jahresabschlussprüfung ist nicht kompliziert, aber sie muss gemacht werden. Sehen Sie die Überprüfung nicht als zusätzliche Last für Ihr Unternehmen. Sehen Sie sie als Chance ihr Unternehmen einem Gesundheits-Check zu unterziehen. (more…)
Payroll for Expats in China
Along side globalization and the advancement of technology, it doesn’t come as a surprise that international projects and global assignments have become a norm in today’s business world. In addition to the increase in international projects, an increase of the...
Grace Shi in an Interview about China´s developing tax system with taxlinked.net
By Grace Shi,ECOVIS Beijing Last week Grace Shi, partner at ECOVIS Beijing, was invited for an interview by Taxlinked.net, an online platform for lawyers, accountants as well as trustees, which allows professionals to connect, interact, exchange knowledge, find solutions together...
Tax Update June – Notification on nation-wide Tax Audit Plan 2015
By Grace Shi, ECOVIS Beijing Notification on nation-wide Tax Audit Plan 2015 As a result of its national tax meeting the State Administration of Taxation (“SAT”) has recently published an internal notification for the nation-wide tax audit plan 2015. The...
Attention: Foreigners’ tax payments getting checked!!!
By Manuela Reintgen, ECOVIS Beijing China Tax authorities have put a focus on foreigners’ Individual Income Tax (IIT) payments! Beijing tax officials are currently conducting random checks on past tax filings and forcing companies to make self-inspections. (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. (more…)
Tax Exemption Now Available for Companies with Annual Revenue of Up to 200,000 RMB!
By Richard Hoffmann, ECOVIS Beijing China Always paying too much taxes? China has raised the upper limit of tax exemption for small companies from 100,000 to 200,000 RMB total annual revenue. (more…)
China’s Corporate Income Tax Update: What You Need to Know
By Richard Hoffmann, ECOVIS Beijing China Watch out! China’s new regulations on corporate income taxation regulate inter-company expenses. Learn how to manage payments from related companies to avoid paying too much taxes. (more…)
Seminar about Individual Income Tax, Social Insurance and Private Pension
By ECOVIS Beijing On the 17th of March 2015, Ms. Manuela Reintgen from ECOVIS Beijing and Mr. Klaus-Peter von der Eltz from Expatriate Care Consult held a seminar on individual income tax (IIT), social insurance and private pension, organized by...
Less bureaucracy! No VAT General Tax Payer approval necessary
By Grace Shi, ECOVIS Beijing Do you hate bureaucracy? Learn how the changes regarding VAT General Tax Payer status approval and Special Red-ink VAT invoices will simplify your company’s VAT booking and filing. (more…)
Adjustment and Improvement of Tax Policies for the Merger and Restructuring of Enterprises
By Lun Wang, ECOVIS Ruide China The State Council promulgated the Opinions on Further Optimizing the Market Environment for the Merger and Restructuring of Enterprises (Guo Fa[2014] No.14) on March 24, 2014. With regard to the merger and restructuring of...
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...
Presentation for those who want to invest in Australia!
By ECOVIS Beijing On the 4th of November 2014 our colleagues from Ecovis Clark Jacobs in Australia, Mr. Heath Stewart and Mr. Scott Hogan-Smith held a presentation about commercial and tax issues for businesses establishing in Australia at our office...
Comparison between old and new Sino-German Tax Treaties
By Satinna Feng, ECOVIS Ruide China The new Agreement between the People’s Republic of China and the Federal republic of Germany for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income and...
Payroll for Expatriates in China: 2 Things you need to know
By Richard Hoffmann, ECOVIS Beijing China Along side globalization and the advancement of technology, it doesn’t come as a surprise that international projects and global assignments have become a norm in today’s business world. In addition to the increase in...
Sino-Swiss Free Trade Agreement: effective now!
By Richard Hoffmann, ECOVIS Beijing China The 1st of July 2014 marks a major milestone in the relations between China and Switzerland as the Sino-Swiss Free Trade Agreement (FTA) officially came into force. After starting talks as early as 2007 and holding numerous negotiation rounds, both countries...
Corporate Income Tax Guide China
By ECOVIS Beijing ECOVIS Beijing China Download our "Corporate Income Tax Guide". As a foreign business that generates income from China, you may be subject to taxes from both your home country and from China. Firms must be vigilent to minimize...
Advertising and Retailing on Internet Channels in China
By Richard Hoffmann, ECOVIS Beijing In 2012 Starbucks started advertising QR codes in its nearly 1,000 stores around China. Customers scanned the code with their cell phone cameras and sent Starbucks a message with an emoticon and customers received a song in...
Preparing your leasing business in China
By Manuela Reintgen, ECOVIS Beijing Preparing your leasing business in China requires commitment and patience. Both lessor and lessee should be familiar with the tax and legal regulations in order to be compliant with the Chinese law. (more…)
The tax and legal framework of the leasing business in China – An event by VDMA – with contribution of ECOVIS Beijing
On the 22nd of May 2014, the German Engineering Federation (VDMA) organized an event at the Saixiang Hotel in Tianjin focusing on the Construction Equipment and Building Material Machinery Industry in China. Various representatives of related companies came together to...
The Sino-German Double Taxation Treaty (DTT) – Major Implications
By Richard Hoffmann, ECOVIS Beijing China’s going global strategy is becoming more and more apparent – especially China’s ambitions for economic cooperation with Europe were once again proven when the taxation treaties with several European countries such as the UK, France or...
Foreign Automotive Companies in China – Three Common VAT Issues
By Richard Hoffmann, ECOVIS Beijing The number of automobiles globally is estimated to grow from currently around 650 million to roughly 1.4 billion by 2030. As the largest and fastest growing market for automobiles worldwide, China represents the strongest force behind this...
VAT exemption and issues in China
By ECOVIS Beijing On the 25th of April Manuela Reintgen and Richard Hoffmann held a online-workshop about the important topic “VAT exemption and issues in China”. If you export services from China you might have the chance to get VAT...
Clarification on Enterprise Annuity and Occupational Pension
By Season Hu, ECOVIS Ruide China In March 2014, The Ministry of Human Resources and Social Security (“MHRSS”) printed and distributed the interpretations on the policy . (more…)
Dairy Exports to China – Processes and Opportunities
By Richard Hoffmann, ECOVIS Beijing Over the past three decades the production and consumption of dairy products in China have risen enormously with annual growth rates averaging over 10 percent since 2000. This growth trend is expected to continue and increase China’s...
Company Liquidation: A comprehensive guide on how to proceed [4/4]
By Richard Hoffmann and Michelle Yan, ECOVIS Beijing Doing business will always have its success and failures. However, in the case where it really comes down to needing to liquidate your company, there are formal steps in which you should closely follow. The...
Hong Kong Holding or Direct Entry?
By Richard Hoffmann, ECOVIS Beijing Considering your different options of entering the Mainland Chinese market? Not sure if you should be using a third jurisdiction like Hong Kong? Well let us break it down a little for you. Hong Kong...
Corporate Income Tax – Part 3, Resident enterprise
By Richard Hoffmann, ECOVIS Beijing Resident enterprises are either established under the laws of the PRC or founded outside, but with a place of effective management in China in the sense of a management which is substantial and has overall...
Corporate Income Tax – Part 2, Non-resident enterprise with a PE
By Richard Hoffmann, ECOVIS Beijing Our last article covered the case of a non-resident enterprise without a permanent establishment. In this article, we will discuss the situation if you are a non-resident enterprise with a permanent establishment. When it comes to Corporate Income...
Corporate Income Tax – Part 1, Non-resident enterprise without a PE
By Richard Hoffmann, ECOVIS Beijing China When it comes to Corporate Income Tax, you should pay attention because, on one hand, there are benefits you don’t want to miss, but on the other hand, there are losses and penalties you don’t want...
CIT – IIT – VAT Refund, Seminar at German Centre
By ECOVIS Beijing China Yesterday was an exciting day for Ecovis Beijing. Hosted at the German Centre in the Landmark, Grace Shi and Richard Hoffmann presented an informative and interactive presentation on the exciting changes with the VAT Refund, as well as...
Corporate Income Tax – and Individual Income Tax – VAT Refund
Do you have a company in China? Are you working in China and paying taxes? Do you provide services to your HQ and get exempted for “export of services”? In our next seminar we will not only be covering these...
Steuerdelikte und Folgen, Präsentation AHK Beijing
By Richard Hoffmann, ECOVIS Beijing China In dieser Präsentation erfahren Sie, was Sie beachten müssen, wenn Sie in China mit Steuern zu tun haben. Stellen Sie sicher, eine langfristige Steuerstrategie zu haben, die Ihnen unter allen Umständen Sicherheit fürs Chinageschäft gibt. Riskieren...
Case: VAT Refund China – VAT Reform – Deadline March 31st 2014!
by Richard Hoffmann, ECOVIS Beijing China The deadline for the VAT refund in Beijing is approaching fast – just 2 months left until March 31st, the last day in which companies can apply for it. (more…)
Blanket allowances
By Sven Rücker, ECOVIS Düsseldorf, Germany There are several blanket allowances that can be paid tax free to employees of German companies travelling abroad. They differ from country to country and are subject to change at regular intervals - last...
VAT pilot program is improving–expanded scope and changes
By Yi Wang, ECOVIS Ruide China On 13 December 2012, Ministry of Finance (MoF) and the State Administration of Taxation (SAT) jointly issued Circular on the Inclusion of the Railway Transport Industry and Postal Service Industry in the Pilot Collection...
Beijing Tax Compliance Calendar for 2014
By Richard Hoffmann, ECOVIS Beijing China The Beijing Local Taxation Bureau has published all the important tax dates for 2014. We provide you with an English / Chinese calendar – giving you an overview over all the Chinese tax deadlines...
Tax in China – Taxation in the PRC
By Richard Hoffmann, ECOVIS Beijing China Understanding the tax system in China can be challenging. 25 common types of taxes are currently levied on either enterprises or individuals. Some are of common nature but several are only imposed on very...
VAT China – How does it work for inter-company services
By Richard Hoffmann, ECOVIS Beijing China The following email inquiry from one of our readers will bring light into the darkness of pilot services applicable to VAT in China. A big foreign company group “The Group”, faces increasing inquiries from...
Comment on the current Tax System of the PRC
By Richard Hoffmann, ECOVIS Beijing China How would you summarize the current development of the Tax System in the PRC? China has built its tax system from the ground in the 1980’s. Since then there have been major changes and...
Important facts to know when sending employees to China – employee secondments and Individual Income Tax
By Richard Hoffmann, ECOVIS Beijing China Sending employees to China – employee secondments and Individual Income Tax. Companies that have staff overseas in China might face difficulties when it comes to the company’s and the individual’s tax status and taxable...
Getting money out of China – Cash repatriation
By Richard Hoffmann, ECOVIS Beijing China As the Chinese domestic market is growing quickly and foreign companies are making profit, it is necessary to think about strategies to get the cash out of China. Many companies not only produce in...
Implementation rules regarding the “Exempt, Credit and Refund” method to the export of zero-rated service under the VAT transformation program
By ECOVIS Ruide China, Pingwen Hu Further to the guidance provided in Circular Caishui [2013] No. 37 (“Announcement of the Nationwide Pilot Program of Transforming Business Tax to VAT in the Transportation Sector and Certain Modern Services Sector”) on the...
Transfer of Intellectual Property from Germany into the People’s Republic of China
By Larsen Lüngen ECOVIS Cologne and Krefeld and Richard Hoffmann ECOVIS Beijing The cross-border transfer of intellectual property (IP) becomes more and more important. Intellectual property is an intangible property of an enterprise or an individual and includes patents, non-patented...
Important deadline – Beijing VAT refund for export of service deadline 31st of January 2014! –
By Richard Hoffmann, ECOVIS Beijing China We just received inside information about the planned refund deadline for VAT paid between 1st August 2012 and October 2013 will likely be 31st of January 2014 for the municipal Beijing. It is expected...
New laws and policies related to the “service trade”
By ECOVIS Ruide China, Pingwen Hu In July 2013, both the State Administration of Taxation (“SAT”) and the State Administration of Foreign Exchange” (“SAFE”) promulgated two important policies related to both taxation and foreign exchange of “service trade”, including, (more…)
New VAT Regime: Circular 37 Impact on Foreign Logistics
by Sven Rücker, ECOVIS Düsseldorf, Germany On 24th May 2013, the Ministry of Finance and the State Administration of Taxation issued a new VAT circular (Cai Shui [2013] No. 37 or Circular 37) for the transportation industry, which expanded the...
China Switzerland Free Trade Agreement: New Gate Opened!
By Richard Hoffmann, ECOVIS Beijing China Current news about the Free Trade Agreement (FTA) between China and Switzerland might be your Chance to enter new markets and increase profit margins. The ratification process of the FTA, signed in July 2013...
Praxis-Leitfaden “Business in China” von Richard Hoffmann im Springer Gabler Verlag erschienen
Insiderwissen aus erster Hand Der Praxis-Leitfaden „Business in China“, verfasst von Ecovis Partner Richard Hoffmann, Vertrauensberater internationaler KMU, Botschaften und Manager, ist jetzt erhältlich! Erschienen im Springer Gabler Verlag, können Sie nun diesen umfassenden und mit Insiderwissen gespickten Leitfaden nutzen,...
VAT refund and exemption according to Announcement 52
By Richard Hoffmann, ECOVIS Beijing China The new implementation rules for cross-boarder services, announced on 13th of September by China’s State Administration of Taxation (SAT), are a significant change for many companies whether they are importing or exporting services from or...
Cost Contribution Agreement in China
By Larsen Lüngen from ECOVIS Cologne and Krefeld General Cost Contribution Agreements are contractual agreements for the provision of common services within associated enterprises with a common interest. The basic idea is to share costs with associated enterprises to harness...
An Overview of Profit Repatriation
By Richard Hoffmann, ECOVIS Beijing China Using the right strategy to optimize profit repatriation from China can result in significant cost savings. The most obvious way is to repatriate dividends from China to another country. (more…)
Brief Overview of China’s VAT Reform and its Impact on Companies
By Richard Hoffmann, ECOVIS Beijing China The indirect tax system in China is undergoing a significant reform with the objective of gradually unifying its Business Tax (BT) and VAT system. (more…)
Individual Income Tax in China. Part II: Practical Advice
By Richard Hoffmann, ECOVIS Beijing China This is the second part of our two-part article series on individual income tax (IIT) in China. In the first part we have given an overview on how individual income tax liability is determined...
Individual Income Tax (IIT) in China. Part I: The Ground Rules
By Richard Hoffmann, ECOVIS Beijing China In a mini series of two articles we would like to share some information about a topic we not only deal with in our consulting work on a daily basis, but which also affects...
China to waive taxes for small businesses, some thoughts from a German perspective
By Daniel Frischkorn, ECOVIS WWS Berlin According to the German Press, China waives VAT and Business Taxes for small business owner at least till end of the year. It is expected that more than six million small businesses with monthly...
China’s new trend towards R&D and the tax incentives it has implemented
By Richard Hoffmann, ECOVIS Beijing China In China there has been a new trend towards Research and development (R&D) and the Chinese government has implemented tax incentives to encourage this trend. Over the last few decades China has been a...
V.A.T. for Chinese air carriers flying over Germany
By Sven Ruecker, Ecovis Duesseldorf Once air carriers will provide transport services of persons over Germany, this will be in principle subject to German V.A.T. This applies not only for German but also for foreign air carriers. (more…)
VAT Reform China: The Pilot Policy Extended of to Nationwide for Value-Added Tax (“VAT”) in Lieu of Business Tax (“BT”)
By Pingwen Hu, ECOVIS RUIDE CHINA, Shanghai The pilot VAT reform policy initialized in Shanghai from January 1, 2012 will finally be pushed to nationwide. (more…)
Tax News Headlines
By Pingwen Hu, ECOVIS Ruide China, Shanghai Catalogue of some important tax regulations und laws for the release period: 16 December 2012 – 15 February 2013 (more…)
Treatment of service permanent establishments
By Larsen Lüngen from ECOVIS Cologne and Krefeld A permanent establishment is a dependent branch of an enterprise that is usually subject to income tax and value added tax in a respective country. It is in general a fixed place...
Insights on Treatment of Representative Offices (ROs) – Pressure increases
By Richard Hoffmann, ECOVIS Beijing China It is said that “guanxi”, meaning connections, is important in China. We have been in China for a long time and we have good contacts to many authorities in different areas. This helps us...
Changes, Changes, Changes. Taxes after the VAT reform.
By Richard Hoffmann, ECOVIS Beijing China The customer: A manufacturing company from Germany - delivery of machinery to China The Issue: Our client delivered his product (machinery) to China. He helped with the installation of the machine and also trained the staff...
Taxes when exporting to China – not everyone has the obligation
By Richard Hoffmann, ECOVIS Beijing China Background ECOVIS Beijing China is trusted partner of several Embassies in China. We frequently help with inquiries. Recently, we have been asked to assist with the following project: The Issue: Company A, which is...
Transition of some services from business tax to VAT
On 10 April 2013, it was decided to extend the VAT pilot programme to the whole country on 1 August 2013. As a result, the pilot programme will become national policy. (more…)
refund of German VAT for Chinese companies
By Sven Rücker, ECOVIS Düsseldorf Can Chinese companies apply for a refund of German VAT paid? Doing business in Germany any acting company will sometimes be invoiced by a German service provider, such as lawyers, tax consultants. Usually the invoices...
State Administration of Taxation released APA-Report 2011
By Larsen Lüngen from ECOVIS Cologne and Krefeld An advanced pricing agreement (APA) refers to a negotiation between an enterprise or taxpayer and tax authorities to reach an agreement with respect to transfer pricing methods. It is to be distinguished...
Capital gains derived may be subject to tax for qualified foreign institutional investors
The chinese Securities Regulatory Commission and the chinese State Administration of Taxation have recently agreed on expanding the taxation of qualified foreign institutional investors. Currently, these investors are subject to enterprise income tax at a rate of 10% on dividends,...
Plans for tax reform approved by the chinese State Council
China State Council has approved plans to reform the system of income distribution which will lead to changes to taxation of state-owned enterprises and property speculators. The plans also urge the relevant departments to take measures, including tax and social...
Latest Regulations on the Transformation from Business Tax to Value-Added Tax in Shanghai
On 16 November 2011, the Ministry of Finance (MOF) and the State Administration of Taxation (SAT) jointly issued Caishui (2011) No.110 (Hereinafter refers to “Circular 110”) and Caishui (2011) No.111 ((Hereinafter refers to “Circular 111”) which set forth the Implementation...
Adjustment of Annual Tax Clearance of Enterprise Income Tax
According to the Enterprise Income Tax Law (hereinafter refers to “EITL”) it is mandatory to finish the annual EIT clearance within 5 months. From the viewpoint of our clients the Tax Bureau at the moment is commencing to conduct the...
Announcement on Enterprise Income Tax Policies Issues Concerning the Further Implementation of the Western China Development Strategy
The State Administration of Taxation issued the Announcement on Enterprise Income Tax (hereinafter referred to “EIT”) Policies Issues Concerning the Further Implementation of the Western China Development Strategy (hereinafter referred to “Announcement”), which is more practical and pursuant to the...
Adjustment on Policies regarding Export Tax Relief
The Ministry of Finance (MOF) and the State Administration of Taxation (SAT) of the People's Republic of China have recently issued the Notice Regarding the Policies on VAT and Consumption Tax for Export Goods and Services (Circular 39) and the...
Administrative Measures on Tax Refund (Exemption) for Ports of Departure
In accordance with the Notice of the Ministry of Finance, the General Administration of Customs and the State Administration of Taxation on the Trial Implementation of the Tax Refund Policy for Ports of Departure (Hereinafter refers to “POD”) in Shanghai...
Umsatzsteuer weltweit im Visier
Ecovis wollte es wissen: Welche Bedeutung hat die Umsatzsteuer in anderen Ländern? Wie hoch sind die Sätze? Und nimmt es der Fiskus mit den Formalien so genau wie in Deutschland? Weltweit gehört die Umsatzsteuer zu den am stärksten sprudelnden Einnahmequellen...