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What are the tax benefits of a merger?
6th November, 2014
If a merger meets some special conditions, the recognition of gain or loss could be deferred. Compared with an asset acquisition, a merger will not …
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Are there any special requirements on the tax accounting of the post merger company?
6th November, 2014
Under current rules, the assets, liabilities and shareholders’ equity should be recorded at fair market value. The depreciation or amortisation value should also be calculated …
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How about the tax holidays of the pre-merger company?
6th November, 2014
According to the Notice of Ministry of Finance and the State Administration of Taxation on Enterprise Income Tax Treatment of Enterprise Reorganisation Caishui [2009] No.59, …
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What is the tax effect of the losses of any pre-merger company?
6th November, 2014
According to the Notice of the Ministry of Finance and the State Administration of Taxation on Enterprise Income Tax Treatment of Enterprise Reorganisation Caishui [2009] …
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If a foreign investment enterprise (FIE) has several branches in different localities, how would they pay tax?
6th November, 2014
Generally, income tax should be consolidated and paid by the company’s HQ. As for VAT and business taxes, the branches should pay those taxes in …
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What are the consequences for late payment of income tax?
6th November, 2014
Under the Law of the PRC for the Administration of tax levying (amended in June 2013) and the Measures for the Administration of Tax Registration …
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How would the PRC tax authorities secure the payment of income tax?
6th November, 2014
If a taxpayer fails to pay its tax on time, they should be given a deadline for squaring it up with the tax authorities. As …
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Who is responsible for the penalty an expatriate employee incurs for late payment of income tax?
6th November, 2014
Normally, the FIE would be the withholding agent of the expatriate employee’s tax. This means it has the obligation to withhold and pay the income …
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Is it possible to obtain an extension for payment of income tax?
6th November, 2014
The expatriate employee is under an obligation to file a tax return and submit relevant tax information with the tax authorities. Alternatively, the FIE, as …
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Which government body is responsible for the administration of employment law in China?
6th November, 2014
The Ministry of Human Resources and Social Security. The ministry is responsible for formulating national human resource and social security policies. The Labour and Social …
