Recently, China clarifies that individuals shall be liable for individual income tax (‘IIT’) on income derived from assignment of trade-restricted shares. According to the Supplementary Notice on Individual Income Tax Issues regarding Transfer of Trade-Restricted Shares (Caishui [2010] No. 70) ("Circular 70"), "trade-restricted shares" refers to shares which have been locked up during initial public offerings.

This Spring edition of the Asia Tax Bulletin features the tax changes due to the Government Budget taxation measures issued during the past three months by the governments of Hong Kong...

On December 10, 2009, the State Administration of Taxation issued the Notice on Strengthening the Administration of Corporate Income Tax Concerning Equity Transfer for Nonresident Enterprises, Guo Shui Han [2009] No. 698 (the "Notice").

Recently, Jiandu City State Tax Bureau in Jiansu Province, China, collected RMB173 million (US$25.4 million) on capital gain on an indirect transfer of 49 percent equity interest in a Chinese company.

The China State Administration of Taxation recently issued a notice extending the taxation of capital gains by non-Chinese tax residents arising from indirect transfers of Chinese assets.

Taxation of enterprise reorganisation is a current focus of PRC tax authorities. The Circular on Several Issues Concerning the Enterprise Income Tax Treatment of Enterprise Reorganisations ("Circular 59"), issued on 30 April 2009 and retroactive from 1 January 2008, outlines the tax treatment of equity transfers in connection with an enterprise reorganisation. It distinguishes between a deal where capital gains are subject to a withholding tax at the time of the transaction, and one where the ta

On February 3, 2015, SAT issued a new regulation, Bulletin [2015] No.7 ("Bulletin 7"), which became effective on the same day.

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.

Offshore PE funds should assess whether the new expanded exemption could apply to them or their operations in Hong Kong.

On 28 March 2014, China and Germany entered into a new double taxation agreement (DTA) and protocol (together referred to as 'the new DTA').

The PRC State Administration issued the Notice on Strengthening the Management of Enterprise Income Tax Collection of Proceeds from Equity Transfers by Non-resident Enterprises, dated December 10, 2009 and circulated to the public on December 16, 2009 ("Circular 698").

Circular 79 intends to clarify enterprise income tax (EIT) policy for capital gains with respect to QFIIs/RQFIIs.

We are pleased to present to you the first edition of our firm’s Asia Tax Bulletin.

China's Ministry of Finance and State Taxation Administration have issued comprehensive new regulations governing offshore trust taxation, creating a framework that applies throughout the entire lifecycle of offshore trusts from initial funding to succession. These sweeping changes, effective immediately with a 90-day compliance window, impose Chinese Mainland taxes at multiple points for residents who have established offshore trusts, while also extending reach to non-residents with Chinese Mainland-source

Both Japan and Zealand opts in for Article 9(4), and both of the two contracting states have made notification to the Depositary, pursuant to Article 9(8) of the MLI.

These announcements clarify critical matters including the scope of taxation, preferential policies and collection and administration procedures.

Questa strategia fornisce maggiore flessibilità e una maggiore protezione alla loro struttura aziendale.

As the following table shows, a Signatory or Party to the Convention can choose to apply paragraph 4 either in addition to or to the exclusion of paragraph 1.

On 21 August 2006, the Mainland government and the Hong Kong SAR government signed an "Arrangement between the Mainland of China and the Hong Kong Special Administrative Region for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income" (the "New Arrangement").

China signed the MLI on 7 June 2017. It has opted out of the MLI's permanent establishment (PE) provisions concerning (i) artificial avoidance of PE status through commissionaire arrangements and similar strategies;