Other Briefings
Bank of East Asia Launches RMB Debit Card
BEIJING, May 28 – The Bank of East Asia became the first international lender to issue RMB debit cards in Mainland China after signing an agreement with China UnionPay in Beijing yesterday. The bank also plans to issue RMB credit cards by the end of the year once it has been approved by Chinese regulators. […]
New Tax Incentives Announced for Charitable Donations in China
Income tax may be offset from personal and corporate donations May 19 – As Dezan Shira & Associates advised last week, the Beijing tax bureau has issued today new guidelines for the treatment of tax on charitable donations. Personal donations For employees in China wishing to make personal donations, the donated amount will be exempt […]
Tax Treatments for China FIE Charity Donations
May 16 – Representative offices in China are not advised to make charitable donations from the China bank accounts as business taxes will be levied. Foreign-invested enterprises are able to donate up to 12 percent of their profits tax free. Dezan Shira & Associates advises that a representative office make a donation on behalf of […]
Foreign Bank to Issue First China Debit Card
May 15 – Hong Kong’s fifth-biggest lender, Bank of East Asia, is set to become the first foreign bank approved by Chinese regulators to offer debit card services in the country by next week. “We will target both our existing customers and new clients (in China) for the local currency yuan-denominated debit card issuance, which […]
China clamps down on stamp duty in bid to boost market
SHANGHAI, April 24 – The central government lowered the stamp duty on stocks from 0.3 percent to 0.1 percent today in an effort to stabilize the market. China also introduced two new rules to tighten securities management in a move to restore investor confidence in the beleaguered stock market. “After the recent drops in share […]
New 2008 China Tax Guide out now
Third updated edition of the best selling handbook April 9 – The brand new, updated version of our popular China Tax Guide is now available with a complete overview and updates bringing it right up to the moment in dealing with China’s tax laws as they affect foreign investors. This is the third edition of […]
SAT issues circular on provisional CIT filing for enterprise branches
April 7 – China’s States Administration of Taxation recently clarified provisional corporate income tax (CIT) filing for branches of Chinese resident enterprises. Guoshifa [2008] No. 28 applies to resident enterprises which maintain operating branches or establishments in multiple provinces. Headquarters and second-tier branches with business operations are required to file provisional monthly or quarterly CIT […]
China commodities exports to slow as domestic economy warms, imports to increase
China developing quietly as worlds largest commodities trading center Mar. 25 – Amidst the on-going rhetoric about China’s trade imbalances, a little understood, but significant revolution is underway – the massive emergence of China as the worlds largest commodities trading center. Global commodities markets have seen prices of goods such as basic fuels, grains and […]
