A number of tax regulations in China have been updated due to
changes in government policy. To help you understand what these
updates are and how they will affect your organisation, we have
prepared a table summarising them.
To view the article in full, please see
below:
Full Article
The MoF and the SAT jointly issued the Circular to explain the
stipulation in Article 7 of the PRC Implementation Rules of the
Provisional Regulations on Consumption Tax
("CT"):" CT shall not be levied on the taxable
consumer goods, if they are sold directly after being retrieved
from contracted processing."
According to the Circular, this stipulation only applies to the
situation when the contracting party directly sells taxable
consumer goods at a price no higher than the selling price adopted
by the processing party for CT purposes. Otherwise, CT shall be
levied on the taxable consumer goods sold by the contracting party,
but the CT previously withheld and paid by
