Other Briefings
China Likely to Initiate More Tax Cuts
Dec. 9 – Policymakers convening in Beijing for the annual Central Economic Work Conference may initiate more business tax cuts to boost the slowing economy, reports China Daily. There are reports from a source close to policymakers saying that business tax for companies may be lowered by 1 percentage point from the current 5 percent. […]
Salary Structuring and Payment of Employees in China
By Adam Livermore June 9 – Foreign investors in China have become more ambitious over the years in terms of the kind of projects they are carrying out. We are seeing a gradual shift from low-value added manufacturing enterprises to high-value technology and service operations. One of the main challenges investors have to adapt to […]
Filing annual individual income tax returns in China
By Smile Yu/Dezan Shira & Associates BEIJING, Jan. 2 – Early in 2008, expatriate employees in China with annual incomes in excess of RMB120,000 (about US$16,200) should complete an annual self-declaration to be submitted by the end of March – at the latest – for their income earned in the 2007 tax year. This annual […]
China’s anti-monopoly law
By Stefanie Knirsh/Dezan Shira & Associates BEIJING, Oct. 23 – Set to take effect August 1, 2008, China’s new anti-monopoly law aims to protect market competition by regulating price-fixing and other forms of collusion, and providing for investigation and prosecution of such practices. The new law, passed on August 30, 2007 by the National People’s […]
New IIT systems for expatriates come online in Shenzhen
By Eugenia Wu/Dezan Shira & Associates SHENZHEN, Sept.28 -The Shenzhen tax bureau has changed its IIT declaration systems for companies with high payments. The two new systems – IIT withholding and Yi Cai Shui (easy tax) – came into effect in July, 2007. The Yi Cai Shui system transmits data from IIT withholding to the […]
