News & Updates

Corporate Income Tax (CIT) is generally applicable to all companies in China or those with business activities in China. A sound understanding of China’s Corporate Income Tax framework is essential to ensure full compliance in China. As such, this article discusses all key characteristics of China’s CIT framework, including the classification of taxpayers in China, the CIT calculation method, applicable CIT deductions and exemptions, applicable CIT and preferential CIT rates and withholding CIT rates.

On the 16th of April 2021, the Chinese government published the quarterly economic data for the first quarter of 2021. Even though the results seem remarkable, the figures are distorted due to the significant downturn experienced in Q1 2020. However, when comparing to the first quarter of 2019 and to the previous quarters, the economy shows continued growth after the downturn experienced in the first half of 2020.

According to China’s existing Individual Income Tax (IIT) law, which came into effect on 1 January 2019, expatriates in China can continue to claim these tax-exempt expatriate allowances until the end of the transition period, ending 31 December 2021.

The Chinese Government Work Report reviews the government’s accomplishments over the last year and provides further guidance on the government’s social and economic policy direction for the year 2021. As such, the focus of this article is a review of past accomplishments, a discussion on the main targets set out for 2021 and important implications for foreign-invested enterprises in China, and SMEs in particular.

In this article we discuss the key takeaways of the published 14^th Five Year Plan and its implications on a broader macroeconomic level.

We are proud to announce the launch of the 2021 Sino Benelux Business Survey.
Please participate in the survey. Your opinion matters!

The survey is completely anonymous, meaning we will not require you to fill in any information which can be linked to your company or person. All data will remain strictly confidential.

As of February 12^th, 2021, the year of the Ox commences in China. In this article, we explain the importance of the Ox among the zodiac signs and we look ahead to relevant business and policy developments for the upcoming year.
 

In our article we discuss how the preferential tax policy for annual bonuses under the Individual Income Tax framework affects the IIT rate calculation.

The establishment of a Branch Office can be an efficient and cost-effective way to expand a company's business to other areas within China. In our article we discuss the requirements, benefits and limitations of branch offices and elaborate on the setup procedures.

On the 18th of January, the Chinese government published the quarterly economic data for the fourth quarter of 2020, which concludes the economic year of 2020. After the first quarterly decrease of GDP in Q1 since 1978, and the subsequent recovery of the Chinese economy Q2 and Q3, the economic data showed a continued trend of recovery with an increase in year-on-year GDP by 6.5% for Q4 of 2020.