On 18 May 2010, a well-known multinational investment group paid RMB173 million (approximately US$25.4 million) in taxes to the tax authority in the city of Jiangdu in the Jiangsu Province of China.

China's new withholding tax deferral scheme provides tax breaks for foreign companies if they directly reinvest the dividends into industries promoted by the Chinese government.

The long-awaited authoritative clarification on VAT treatment of reinsurance in China has been announced.

China has released new rules on the tax treatment of various types of corporate reorganisations, including equity and asset acquisitions, mergers, debt restructurings and enterprise spin-offs.

Compliance tips to set yourself up for a smooth transition and guard yourself against potential problems.

The Chinese Tax Bureau promulgated on 6 July 2009 the circular number 363 on reinforcing control and investigation of transactions between affiliates.

On 30 September 2022, the Ministry of Finance (MOF) and the State Taxation Administration (STA) issued the announcement No.31 of 2022, which provides for VAT, stamp duty, deed tax, real property tax...

On 17 November 2011, the Ministry of Finance ("MOF") and the State Administration of Taxation ("SAT") introduced a pilot programme in Shanghai to replace Business Tax with Value-added Tax ("VAT") commencing 1 January 2012.

In China, the invoice — or fapiao (发票) — refers to the certificate of payment or receipt of money made or received in purchases and sales of goods, provisions or acceptance of services and other business activities.

China has rolled out more tax cuts worth up to RMB 60bn for small businesses to encourage innovation. Companies can enjoy full benefits from the new measures if they obtain guidance from the right partner.

In the last edition of this update, we featured the Hong Kong Government's public consultation on a nutrition labelling scheme for pre-packaged foods. Since that article a disturbing related issue has emerged in Hong Kong and mainland China. Most people are familiar with the trade in counterfeit items all over the world such as watches, computer games, DVDs and clothing. Whilst this is a major concern for multi-national and local companies who wish to protect their intellectual property righ

The Notice on Questions Concerning Settlement of Land Appreciation Tax over Real Estate Development Enterprises ("Notice"), issued by the PRC's State Administration of Taxation ("SAT"), came into effect on February 1, 2007.

China's aspirations for its aircraft finance sector are as lofty as its potential, as it bids to transform a young and fast-growing domestic industry into a world-beating one.

From 2019, the same bureau will be in charge of the collection of individual income tax and social insurance premiums.

China and Italy have updated their bilateral double tax agreement (DTA) to encourage investment and provide greater fiscal certainty as the two countries grow closer economically.

For foreign investors, these tax changes will bring both bottom-line benefits and greater consistency to their operations.

The commercial health insurance scheme should be approved by the provincial finance, taxation and insurance supervision departments.

Companies that have been applying the VAT exemption should complete a detailed review to analyse risks and options.

China is calling for public opinion on the proposed draft amendment to the Individual Income Tax Law. Here is our prediction of what the results could be under the Seventh Individual Income Tax law.

Chinese and foreign nationals employed in China must declare their annual individual income tax before the end of June 2020.