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Welcome to the Asia Tax Bulletin, winter 2021/22 edition. I would like to make a special note about the recent ‘Grey-listing' of Hong Kong and Malaysia by the European Union (EU)...

2014年3月7日，国务院发布《国务院关于进一步优化企业兼并重组市场环境的意见》(国发【2014】14号)

Dividend repatriation is one of the main methods used by overseas shareholders for retrieving funds from Chinses investments, given the jurisdiction's foreign exchange controls.

The concept of "smart economy" has led multinational corporations (MNCs) to view technology as a core asset. Recognizing this trend, many jurisdictions are offering various incentives...

Recently, the China State Administration of Taxation has issued several circulars strengthening the administration of, and tax collection relating to, services provided by nonresident enterprises.

Global growth is projected at –4.9% in 2020, according to the June 2020 World Economic Outlook (WEO) forecast issued by the IMF.

This Rule will establish more specific and systematic rules for preferential tax treatment of policy-based relocations.

A "tax health check" would give a company or its (foreign) shareholders a clear overview of the tax situation in China.

A tax health check in China is a review of tax-related matters of a business entity, to identify risks and liabilities.

Below is a brief summary and discussion of the application of Announcement 7, which applies to indirect transfers of PRC entities or properties by offshore investors.

In March of this year, China dealt a strong blow to the international investment community by abolishing certain tax holidays and exemptions.

On August 8, 2006, the Ministry of Commerce ("MOFCOM"), joined by the State-owned Assets Supervision and Administration Commission of the State Council, State Administration of Taxation, State Administration for Industry and Commerce, China Securities Regulatory Commission ("CSRC") and State Administration of Foreign Exchange, amended and released the Provisions for Foreign Investors to Merge and Acquire Domestic Enterprises (the "M&A Rules").

From 1 September 2026, dividends paid by foreign-invested enterprises to foreign individual shareholders are taxed at 20 per cent. Official commentary suggests most investors will see no net increase. For one of the most common foreign investor profiles in China, that is not the case.

Foreign companies need to review payroll and IIT declaration processes and communicate the changes with all employees.

Foreign companies will need to review payroll and IIT declaration processes and communicate the changes to all employees.

On 6 February 2015, China's State Administration of Taxation (SAT) issued Public Notice [2015] No. 7 (Public Notice 7) which deals with indirect transfers of Chinese taxable assets.

If a non-domiciled individual is physically present on the mainland for 24 hours in one day, that day counts towards a day of residing in China.