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  • What should expatriates do about their banking whilst in China?

    6th November, 2014

    Whatever your financial circumstances, as an expatriate you would be advised to examine the possibility of opening an offshore bank account, in order to take …

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  • What is the difference between expatriates and local Chinese for individual income tax purposes?

    6th November, 2014

    There is a classification in Chinese citizens and non-Chinese citizens, both of them are regarded as taxpayers in China and their IIT shall be payable …

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  • What is the legal statement about tax payment of individuals, who have stayed more than 1 year and less than 5 years (including the 5 year) but have no domicile within China?

    6th November, 2014

    For income derived from sources outside Mainland China by individuals not domiciled in China, but resident for more than one year and less than 5 …

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  • Which opinion exists within the jurisdiction for individuals living in the territory of China longer than 5 years?

    6th November, 2014

    For individuals who have lived within the territory of China for 5 full years, from the sixth year onwards, individuals who have lived within the …

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  • Which type of income will be subjected to payment of individual income tax (IIT)?

    6th November, 2014

    The taxpayer has to pay attention as there are a lot of types of income:   • Income from wages and salaries;   • Income …

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  • Regarding the tax liability of directors and senior management personnel of enterprises within the jurisdiction of China. How is it determined and what measures will the tax authorities take if this tax is not paid?

    6th November, 2014

    For individuals who assume posts as directors or senior level managerial personnel of an enterprise within China, director fees or wages and salaries gained by …

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  • What has to happen for IIT to be reduced upon approval?

    6th November, 2014

    There are three situations, whereby IIT can be reduced:   • Income derived by disabled persons, unsupported aged persons or members of a martyr’s family; …

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  • Do foreign employees have to pay China taxation and on what basis is this calculated when their salaries are paid offshore?

    6th November, 2014

    When a foreign employee is not a China domiciled individual and receives remuneration from a foreign employer whereby the payment is not borne by the …

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  • Can losses be carried forward in China?

    6th November, 2014

    Chinese regulations allow losses to be carried forward for up to five years. Losses are not however allowed to be carried back.

  • What should a company do if it has not filed its taxes properly, how can this be rectified?

    6th November, 2014

    China is making great strides in reforming its taxation system, improving the collection of tax and ensuring compliance. The taxation authorities tend to look favorably …

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