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News & Events
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One-year transitional period for the New Business Tax (BT) Regulation
16th October, 2009
Business Tax is one of the major turnover taxes currently being implemented in China. It is levied on (i) Transfer of intangible assets in China; …
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Beijing Government: New Rules to Encourage Multinational Corporations to Establish Regional Headquarters in Beijing
28th September, 2009
In May 2009, the Beijing Government issued a revised regulation in respect of encouraging Multinational Corporations (MNCs) to establish regional headquarters (RHQs) in Beijing. Shortly …
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State Administration of Taxation updates selected IIT Policies
25th September, 2009
On 17th August 2009, the State Administration of Taxation (SAT) issued tax notice Guo Shui Fa (2009) No. 121 (hereafter referred to as Notice No.121), …
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China Internal Control Standard for Listed Companies: Effective 1st July 2009
31st July, 2009
On 28 June 2008, the Chinese Ministry of Finance, CSRC, CIRC, CBRC and the National Audit Office jointly issued a Standard (Draft version) relating to …
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Criteria for foreign MNCs establishing Regional Headquarters in Shanghai
20th July, 2009
The Shanghai Municipal Foreign Economic Relation & Trade Commission (SMERT) is responsible for recognising the Regional Headquarters of foreign multinational corporations established in Shanghai. It …
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Liberalization of trade in services between Hong Kong and Mainland China under CEPA
18th July, 2009
From 1st October 2009, Mainland China will further relax 29 liberalization measures covering 20 service sectors, whilst also introducing two new sectors – research & …
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Further Increase in Export Refund Rates for certain commodities
3rd July, 2009
Based on the ‘Notice of Further Increase in Export Refund Rates for certain Commodities’ issued by the Ministry of Finance and the State Administration of …
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Shanghai Incentives to attract Foreign Investments
20th June, 2009
Recently, in conjunction with changes to various taxation and customs regulations the Shanghai authorities have also undertaken measures to further attract foreign investment and trade. …
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The State Administration of Taxation Releases New Circular to Strengthen Tax Collection and Administration
10th June, 2009
The State Administration of Taxation (“SAT”) recently released a tax notice, Guoshuifa [2009] No.85 (hereafter referred to as “Circular 85”) setting out the Guidelines for …
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HOW TO CALCULATE VAT REBATES
2nd June, 2009
In our April tax newsletter, we discussed how China has increased VAT rebates six times since the second half of 2008. Our Firm has received …
