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China‘s National People‘s Congress (NPC) passes new bill for foreign investments

By the end of the annual conference on March 15th 2019 China has voted for a new law that is supposed to bring an end to the disadvantages of foreign firms in China and aims for fair competition. The legislative regulations shall come into force on January 1st 2020. This Foreign Investment LAW (FIL) thus poses a legal foundation for investment- and business activities in China.

More Detailed Rules on China VAT Reform

In today’s Newsletter we will introduce the detailed rules of VAT reduction, which shall have an impact on the tax burden of your company.

New Regulations regarding the Individual Income Tax (IIT) in China

According to the new PRC law regarding the Individual Income Tax (IIT) and the implementation of its guidelines, the Chinese Ministry of Finance (MOF) and the State Administration of Taxation (SAT) together made public MOF/SAT bulletin (2019) No. 34 and No. 35, to set the following matters:

Legal representative’s powers and responsibilities

The powers of a legal representative are not clearly defined by PRC Company Law.

Key positions by a WFOE

A WFOE has the following key organs:

Starting from 01.04.2019: China to Reduce VAT Rate

To support the slowing economy, "China will reduce the current 16% value-added tax (VAT) rate for manufacturing and other industries to 13%, while the current 10% VAT rate for transportation and cons-truction industries will be 9%," Premier Li, Keqiang said at the two sessions (Lianghui: NPC & CPPCC) on March 5, 2019.

Latest M&A-Projects

If you are interested in our M&A-Opportunties (Sell-Side & Buy-Side) do not hesitate to contact us for further informations.

The sooner coming IIT Reform - how your IIT will be affected?

Recently, a series of policies aimed at expanding domestic demand, promoting investment and reducing tax burden of enterprises and individuals are being released intensively.

Seminar in Shenyang: Financial Management for German SME in China

Companies with certain scales need to establish separate financial departments and hire full-time cashiers and accountants. But, is this the total solution of all requirements of the financial management? However, due to the strong requirements on the duties of a single cashier or accountant they usually have a lack of comprehensive understanding for the financial situation of the whole company. That's normal. An accountant or cashier is, of course, not a tax adviser in the same person, so it is quite normal that a company needs more information about the updated financial and tax regulations to avoid that they feel quite helpless in the face of tax or financial problems during the daily business operations.

Interpretation on the Promulgated Administrative Measures for Tax Convention Treatment for Non-resident Taxpayers

With a view to promote the reform of administrative examination and approval for tax affairs and optimize the administration of tax convention treatment for non-resident taxpayers, the State Administration of Taxation (SAT) recently promulgated the Administrative Measures for Tax Convention Treatment for Non-resident Taxpayers, hereinafter referred to as, "Circular No.60". How does this impact on non-resident tax payers?

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