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Beijing
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...
From Starbucks to the Skyline – 3 Years ECOVIS Beijing
By ECOVIS Beijing ECOVIS Beijing is celebrating its 3rd anniversary: Where we started, where we are now and where we are heading. (more…)
Seminar: Changing or Expanding Your China Business
Manuela Reintgen of ECOVIS Beijing, in co-operation with the German Centre Beijing, held a seminar explaining how to change a company’s legal structure and expand its operations in China. (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...
ECOVIS IPM 2014 – 60 Partners for Pitstop in Beijing
By ECOVIS Beijing ECOVIS Beijing was glad to welcome its guests from the ECOVIS International partner meeting to Beijing. After travels to the Great Wall, Forbidden City and other must-see areas Richard Hoffmann and Grace Shi invited them to our...
Location Search and Company Set-Up in North China [1/3]
By Richard Hoffmann, ECOVIS Beijing Economic development zones are not entirely a Chinese invention. In numerous other countries around the world similar zones were established long before to promote the local economy and test or introduce structural reforms. It is, however, obvious...
An Interview with Erlkönig China: The Automotive Industry in China
By ECOVIS Beijing On Wednesday, 16th of July 2014, Mr. Sven Hundhausen, Director of Erlkönig China held an interview with Mr. Constantin Colberg, Senior Associate at ECOVIS Beijing, about the automotive Industry in China. Current issues such as market entry...
Selling your company to Chinese investors
By Richard Hoffmann, ECOVIS Beijing In this article we have a look at the motives of Chinese investors for investing in Germany and how German companies can benefit from the relationship with their new Chinese owners. Motives of Chinese investors for investing...
The social security system in China
At the start of June 2014, the Beijing Municipal Human Resource and Social Security Bureau (BMHRSSB) and the Beijing Municipal Bureau of Statistics (BMBS) announced that the average monthly wage in 2013 was RMB 5,793 for Beijing. This number is...
M&A in Germany: the perfect foreign investment?
By Richard Hoffmann, ECOVIS Beijing Mid-sized German businesses are a hot takeover target for Chinese companies. German business is known for its innovation and product integrity, a natural match for China’s large market and manufacturing prowess. As this relationship becomes more apparent,...
Seminar about individual income tax, social insurance and private pension
By ECOVIS Beijing On the 3rd of June 2014, Ms. Manuela Reintgen from ECOVIS Beijing and Mr. Klaus-Peter von der Eltz from Expatriate Care Consult held a seminar on individual income tax, social insurance and private pension at the German...
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...
Jain University from Bangalore on Visit in Beijing
By ECOVIS Beijing On the 28th of May 2014, Ms. Manuela Reintgen from ECOVIS Beijing gave a presentation for MBA students of entrepreneurship from Jain University in Bangalore, India about doing business in China. The students were on a ten-day...
Emerging Multinational Companies from China – new competitors to Germany’s core industries?
By ECOVIS Beijing Our last article was about Multinational Companies (MNCs) from Asia. In this article we take a closer look at the global brand presence of Chinese Emerging Multinational Companies (EMNCs) and the way they are perceived from outside...
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...
Luxury Properties Showcase in Beijing 2014
By ECOVIS Beijing The Luxury Properties Showcase (LPS) is a leading luxury property show in China, well-known for its glamour and exclusivity. Over 5,000 Chinese luxury home buyers and owners as well as numerous VIPs visited the property show in Beijing...
German machinery delivery to China – an update by VDMA China
The German Engineering Federation VDMA (Verband Deutscher Maschinen- und Anlagenbau e.V.) has published new figures on German machinery deliveries to China. Mr. René Bernard, Business Development Manager and designated General Manager of VDMA China, presented the most recent developments and...
Five reasons for outsourcing bookkeeping in China
Many business owners can, effectively, only manage a handful of staff. Rather than doing everything internally and specializing in all relevant business activities, business owners should think about what activities to outsource. Outsourcing is when a company subcontracts an outside...
2014 Beijing International Automotive Exhibition
By ECOVIS Beijing In 2008 the automotive industry in China became the largest in the world in terms of units of automobiles produced. Accordingly, the semiannual Beijing International Automotive Exhibition, or Auto China for short, is one of the most...
German Chamber Board Election: Thank you and Congratulations
By Richard Hoffmann, ECOVIS Beijing Last Thursday, April 3rd, was The German Chamber of Commerce’s annual general meeting, which also happened to be the final stretch of the board election. The event was graceful and well organized, with food and drinks...
Galaxy Soho Office Opening: a successful evening of chatter & laughter
by ECOVIS Beijing "Lively music, great company coupled with heavenly wine and canopies, definitely an evening to remember." (more…)
Good Potential for Investment: The Wuqing Development Area
By Richard Hoffmann, ECOVIS Beijing China The Wuqing Development Area was established by the State Council in 1991. It is both the State-level Economic and Technological Development Area and State-level Hi-tech Industrial Park. Its total planned area is 93 km2 and it...
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…)
China HR: The 21 most asked HR questions about the Chinese labor law Part 2/2
by Richard Hoffmann, ECOVIS Beijing China The People’s Supreme Court issued a fourth Interpretation of the Chinese Labor Law, which came into force last year on February 1st 2013. The fourth interpretation contains more specific regulations for payments during the...
China HR: The 21 most asked HR questions about the Chinese labor law Part 1/2
by Richard Hoffmann, ECOVIS Beijing China The People’s Supreme Court issued a fourth Interpretation of the Chinese Labor Law, which came into force last year on February 1st 2013. The fourth interpretation especially contains more specific regulations for payments during...
Bring your products to China – export to China
Administration upon Overseas Payment and Foreign Exchange By Richard Hoffmann, ECOVIS Beijing China ECOVIS Beijing China is a trusted partner of several Embassies in China. We frequently help them with their inquiries. Recently, we have been asked to assist with...
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...
The ECOVIS Doing Business in China Guide 2014 is here!
By Richard Hoffmann, ECOVIS Beijing China The ECOVIS Doing Business in China Guide 2014 is here! A comprehensive & complimentary guide for potential and current investments in the Chinese market, providing you with a head start on your way to...
Enterprise Investigation Reports by ECOVIS Beijing
By Richard Hoffmann, ECOVIS Beijing China As the fastest growing market, China is becoming more and more important for foreign investors and creditors. But due to cultural as well as governmental differences, the generation of information about a potential investment...
Annual Compliance Review in China
By Richard Hoffmann, ECOVIS Beijing China There have been several changes in 2013 for foreign companies, which are active in China due to the various newly introduced laws and regulations. For instance, the VAT reform has a big impact and...
Changes in capital requirements and annual inspection will simplify the set up and running of a business in China
By Richard Hoffmann, ECOVIS Beijing China On October 25 the State Council executive meeting chaired by the Chinese Prime Minister Li Keqiang revealed the plan to implement innovative policies to reduce the costs for setting up a new company in...
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...
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...