Recently, State Administration of Tax issued Annual Corporate
Income Tax ("CIT") Return Package of People's
Republic of China (Type A, 2014). The new return package will come
into force on Jan 1st, 2015 and first to be adopted by resident CIT
taxpayers in the 2014 annual CIT filing. This issue of China Tax
Alert summarizes the main content of and changes in the new return
package and would like to remind taxpayers of certain points for
attention.
Background
With the deeper implementation of the new CIT law, the current
return package can no longer meet tax authorities' needs in tax
administration and restricts the improvement of their service
level. In addition, after the launch of Measures Meet People's
Convenience in Tax Affairs by State Administration of Tax, tax
authorities face the double pressures from tax administration and
tax collection and as a result, put forward higher demands for the
functionality of return package. Thus, the new annual CIT
