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bdp: One-stop service for more than 25 years

Experienced consultants can generate value through supporting companies in various topics, e.g. in conducting effective evaluation and analysis for production and operation processes, establishing a modern management system, recommending and assisting in implementation of relevant actions to raise business benefits. When going abroad companies are likely to face plenty of difficulties due to the missing proximity to the parent company. Especially SMEs must ensure compliance with relevant laws and regulations abroad, e.g. in aspects of tax, legal, foreign exchange and customs.

Within more than 25 years bdp efficiently supported several hundred of clients in the fields of auditing, tax, legal, financing, process optimization, internal control, restructuring and M&A. It is our intrinsic goal to consult SMEs and their subsidiaries in their interest and to maintain an overview on their behalf of frequently changing requirements by taxation, company, labor and accounting laws.

As one of Germany’s leading consulting firms, bdp provide German companies „One-stop service, a whole package solution” to the companies that they may encounter the challenges in different stages of China´s investments. Please do not hesitate to contact our experts to discuss your China´s investment from the tax & accounting and legal perspectives.

Dr. Michael Bormann
Founding Partner of bdp

English

News

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.

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?

Implementing the Sino-EU Mutual Recognition Arrangement for Authorized Economic Operators

From 1st November 2015, China and the EU Customs decided to officially implement the “AEO” mutual recognitions. What is “AEO”? What benefits “AEO” can bring to enterprises?

Should Royalties be charged into dutiable value of import goods or not?

The question whether royalty should be charged into dutiable value of import goods or not still remains the top priority to overcome for China Customs Authority (CCA). Their interpretations on nature criteria, charge base and apportionment methods for the royalties also differ from multinational corporations, so a reasonable planning and effective communications in advance with CCA is of upmost importance to investors when setting up their business in China.

“Examination and approval for confirmation of encouraged foreign-invested enterprise projects” is cancelled

The China State Council had announced that effective from May 01, 2015, examination and approval for confirmation of encouraged foreign investment projects in China (Letter of Confirmation) is no longer required in order to speed up application process of duty-free imported equipment. How do we should response to this change？
This “Letter of confirmation” has long been an important part in the process course of duty free equipment. What impacts would this change bring to us?

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