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  • How to apply for the VAT refund?

    6th November, 2014

    Cai Shui [2012] No.39 specifies the measures to apply for the VAT refund for exported goods and services, and the computational formulas to compute and …

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  • How to make deductions for Input VAT?

    6th November, 2014

    To deduct Input VAT, the taxpayer must have the requisite withholding certificates, i.e. special VAT invoices obtained from the seller or tax certificates obtained from …

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  • Is all Input VAT deductible?

    6th November, 2014

    Not all input VAT is deductible.   Some examples of Input VAT that are deductible are:   • The amount of Input VAT printed on …

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  • When returning goods, should I also return the Special VAT Invoice?

    6th November, 2014

    Yes, otherwise VAT refunds will not be available to the taxpayer. Therefore, when a buyer returns goods, the taxpayer must ensure that the special VAT …

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  • What type of treasury management business operations need the approval of the People’s Bank of China?

    6th November, 2014

    Generally, any Chinese entities, including foreign invested enterprises (“FIEs”) or establishments of foreign enterprises, specially engaged in the business of Loaning and Financing should obtain …

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  • How much is the tax rate on financial products in China?

    6th November, 2014

    The withholding tax rate is 10 % for all interest, rentals, royalties and other income of foreign enterprises. Interest income received by FIEs in China …

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  • There are different cases in which deductions can be made on interest payment. What happens with interest paid during the establishment of foreign enterprise period?

    6th November, 2014

    During the start-up period, interest on borrowing for establishment or construction should be treated as capital expenses. It can be included in the original price of …

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  • In the jurisdiction of China, there exists different tax exemptions for doing business in China. What are they?

    6th November, 2014

    The most important  tax exemptions are interest on government bonds. The interest received from government bonds by foreign enterprises or FIEs are exempt from income …

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  • What is transfer pricing?

    6th November, 2014

    Transfer pricing is the pricing of goods, services and intangibles and the making of other payments between companies that are commonly owned or controlled across …

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  • What are the Transfer Pricing rules in China?

    6th November, 2014

    Transfer pricing in China is governed by the Income Tax Law, and The Law Concerning the Administration of Tax Collection.   Furthermore, the State Administration …

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