Annual Audit and Compliance
At the end of the fiscal year, all foreign companies must complete the annual audit and other annual compliance procedures as set out by the Chinese government. The annual statutory requirements in China can be separated into the year-end statutory audit, annual Corporate Income Tax Filing and Annual Publication Report.
China’s Recent Tax Reforms and Implications for EU SMEs
China has recently implemented changes and reforms to the Individual Income Tax (IIT), the Value Added Tax (VAT) and Corporate Income Tax (CIT) in China. This webinar, addresses the main changes of these reforms and will elaborate on their impact for EU businesses operating in China.
Updates to China’s Individual Income Tax Reform: IIT exemption on foreign-sourced income and calculating IIT for non-domiciled individuals
Recent updates to China’s Individual Income Tax provide further clarification regarding IIT exemptions on foreign-sourced income and the Tax Residence rule. These updates also provide further guidance for calculating IIT for individuals not domiciled in China.
How to re-invest profits made by your company back into China? Deferral policy for dividends tax (WHT) in China
The new deferral policy for dividends tax (WHT) in China extended the scope of industries in which you can re-invest profits made by your company in China. According to the new legislation, dividends which are used to re-invest back into China can either enjoy a 0% or 5% preferential withholding tax rate.
China Monthly, Quarterly and Annual Compliance Requirements
Most companies in China must meet several monthly, quarterly and annual tax deadlines and compliance requirements. This article will discuss Corporate Income Tax (CIT), Value Added Tax (VAT) and Surtaxes, Individual Income Tax (IIT), the Housing Fund, and Social Security.