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Insights e-Newsletter

  • Shanghai: New provision on the establishment of regional HQs by foreign MNCs

    The Shanghai Municipal Government recently issued the new provision, ‘Shanghai Municipality, Establishment of regional headquarters by Foreign Multinational Corporations’ to encourage multinational companies to set …

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  • New Measure for Remittance from China

    The State Administration of Taxation (SAT) and the State Administration of Foreign Exchange (SAFE) jointly issued the following new circular, Huifa [2008] No.64, otherwise referred …

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  • Further Round of Uplifting VAT Export Refund Rates

    As a measure to help the Chinese export-oriented enterprises withstand the current global economic crisis, support labor-intensive medium-sized and small-sized enterprises as well as upgrade …

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  • China Tax Update on New Computation of Withholding Income Tax on Passive Income

    The New Corporate Income Tax Law and its implementation regulations took effect on 1 January 2008, stating that the withholding income tax (“WHT”) should be …

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  • China increases VAT Export Refund Rates

    On 21 October 2008, the Ministry of Finance (“MOF”) and the State Administration of Taxation (“SAT”) jointly issued Caishui [2008] No.138 (“Circular 138”) to increase …

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  • Legal Representative, Power, Limitation and Risk

    The legislation relating to a Legal Representative in China came about during the times when China was going through rapid changes and the Chinese economy …

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  • New Policy of Accounting

    On 15 February 2006, China issued the new Accounting Standards for Business Enterprises (“ASBEs”) .The new ASBEs consist of a Basic Standard and 38 Specific …

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  • New Policy of Taxation

    On 16 Match 2007,the National People’s Congress adopted the enterprise income tax law, which will be effective from 1 January 2008. It’s a key signal …

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  • New Law of Enterprise Bankruptcy in People’s Republic of China

    A new enterprise bankruptcy law of PRC (the New Law) was introduced on August 27, 2006 and became effective on June 1, 2007, comprising 12 …

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  • Greasing the Wheels of Capital Flow-New Online Information System for Direct Investment Foreign Exchange Business

    The State Administration of Foreign Exchange (SAFE) has decided to popularise a nationwide online Information System for Direct Investment Foreign Exchange Business (“System”) with effect …

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  • An economic update on China, just referencing some recent key figures, and some opinions of experts

    China’s economic growth is likely to stay high but “may moderately slow down” this year, according to the country’s central bank. The Chinese economy had …

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  • Why Enterprises Need To Perform Customs Health Check

    The General Administration of Customs has recently issued an updated Administration Measures on Classification of Enterprises. In addition, the Ministry of Commerce and the GAC …

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