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China Briefing Blog 
Provides news, analysis and commentary on economic, business and regulatory issues in China.
Post Frequency: 3.4/day Last Entry: May 25, 2010 at 04:47:32 Recent Entries: 561
By Andy Scott and Chris Devonshire-Ellis
Go to China Briefing Blog, find other International Law blogs, or browse all law blogs.
China RO vs. FICE
Posted on March 05, 2010Op/Ed Commentary: Chris Devonshire-Ellis and Richard Hoffmann Mar. 5 – Recent changes in China?s tax treatment of representative offices in the country have started to push the viability of using RO as a vehicle of ?investment? into China in terms of increasing financial pressure...
SAT Increases Deemed Profit Rates for Non-Resident Enterprises
Posted on March 05, 2010Mar. 5 – The State Administration of Taxation has increased the corporate income tax deemed profits rates for non-resident enterprises carrying out services or projects in China. Under Guoshuifa [2010] No. 19, issued on February 20, unless a resident enterprise is able to provide accurate accounting records, CIT liability for services or projects carried out in [...
Expatriates Going Offshore in China Contracts? Think Again
Posted on March 05, 2010Op/Ed Commentary:Chris Devonshire-Ellis and Richard Hoffmann Mar. 5 – One symptom of the tightening of China?s economy and the impact of labor law is an increasing desire by Chinese employers to offset or reduce potential liabilities with their expatriate employees, such as expatriates employed by domestic Chinese companies being asked to establish an offshore company and [...
Seminar in Beijing Reviews 2010 China Tax Requirements
Posted on March 05, 2010Mar. 5 ? The Singapore Chamber of Commerce, the Danish Chamber of Commerce and the Israel Chamber of Commerce hosted an event on 2010 annual tax compliance and audit requirements for individuals and small and medium sized enterprises at the Westin Hotel in Beijing yesterday...
SAT Increased Deemed Profit Rates for Representative Offices in China
Posted on March 04, 2010Mar. 4 – Representative offices are no longer exempt from corporate income tax in China according to a recently issued circular by the State Administration of Taxation. Guoshuifa [2010] No. 18, issued on February 20, 2010, explicitly stipulates that ROs shall pay corporate income tax on their taxable income, as well as sales tax and VAT, [...
CPPCC Starts Annual Session
Posted on March 03, 2010Mar. 4 ? The Chinese People’s Political Consultative Conference (CPPCC), China?s top political advisory body, opened the Third Session of the 11th National Committee in the Great Hall of the People in Beijing Wednesday. China?s premiere members of the ruling Communist Party, including President Hu Jintao, top lawmaker Wu Bangguo, and Premier Wen Jiabao, were seated [...
March 8 Marks International Women?s Day, Female Employees in China Entitled to Half Day Off
Posted on March 03, 2010Mar. 3 – Monday, March 8 marks International Women?s Day, a government holiday in China where female employees are entitled to a half day off from work. Managers operating businesses in China should be aware of the legal implications surrounding this annual holiday...
Daimler and BYD Sign MOU for China Electric Cars
Posted on March 03, 2010Mar. 3 – Daimler of Germany and BYD, the Shenzhen-based, Hong Kong-listed small auto manufacturer, have signed an agreement to develop and sell electric cars on the Chinese mainland. The deal could be worth up to US$150 million in a joint venture to develop fully electric vehicles...
New Issue of China Briefing Magazine: Operational Due Diligence in China
Posted on March 02, 2010Mar. 2 – In this new issue of China Briefing, we take a look at operational due diligence issues and how to kick a China business’s tires. First, we delve into some of the operational, financial and HR issues that anyone investing in China should be aware of...
Mainland Media Presses for Hukou Reform
Posted on March 02, 2010Mar. 2 – Thirteen mainland Chinese newspapers have jointly issued front page stories pressing for immediate reform of the national hukou system, in an unusual show of the central government being placed under political pressure by its own media...
Individual Income Tax Treatment for Annuity Contributions
Posted on February 04, 2010Feb. 5 – The State Administration of Taxation’s Circular 694 advises on how to compute for individual income tax (IIT) for contributions made to company annuity plans set up by employers. A corporate annuity plan is a supplementary pension funded by contributions from both employers and employees...
The Cost of China?s Stimulus Plan? Its Railway Network
Posted on February 04, 2010Op/Ed Commentary: Chris Devonshire-Ellis Feb. 4 – Mixed signals from China are nothing new. However, recent statements by the Chinese government that the economy can ?afford? to deal with asset bubbles seem to be perhaps rather optimistic. While the asset bubbles themselves ? mainly in the property and stock market sectors ? have been fueled in [...
Corporate Tax for Construction Companies Clarified
Posted on February 03, 2010Feb. 4 – The State Administration of Taxation has released a circular explaining applied corporate income tax for construction companies. The circular instructs trans-regional construction enterprises implementing the head office and branch office systems to calculate and pay for CIT tax following the provisions stated in Guoshuifa [2008] Document No...
New Registration Rules for Foreign-Invested Partnership Enterprises
Posted on February 02, 2010Feb. 3 – The State Administration of Industry and Commerce (SAIC) has released a new order on the registration of foreign-invested partnership enterprises effective March 1, 2010. The new rules aim to manage foreign investors setting up partnership enterprises in China thus improving economic coordination and technology exchange...
Beijing Municipality Encourages FDI in Private Equity Fund Companies
Posted on February 02, 2010BEIJING, Feb. 2 – Local authorities have released a circular encouraging foreign investors to establish wholly foreign-owned private equity (PE) management companies or joint-venture private equity management companies with local companies in its Zhongguancun Independent Innovation Demonstration Zone...
China?s Annual Tax Revenues Increase by 9 Percent to US$928 Billion
Posted on February 01, 2010Feb. 1 – The State Administration of Taxation announced that annual tax revenues for 2009 rose by 9.1 percent to RMB6.31 trillion or US$928 billion despite rebates and subsidies enforced last year as part of its stimulus plan. Local retail sales tax revenues increased by 85...
Corporate Income Tax Treatments for Asset Losses Clarified
Posted on January 29, 2010Jan. 29 – The State Administration of Taxation clarified corporate income tax treatment of asset losses not deducted in the year incurred. Circular Guoshuihan [2009] No. 772, issued by the SAT on December 31, 2009, further clarifies that for any asset losses, the principle set in Circular Guoshuihan [2009] No...
China to Raise Minimum Wage Levels
Posted on January 28, 2010BEIJING, Jan. 29 – Local governments will raise minimum wage levels as soon as next month from 10 to 12 percent given the recovering economy and rising inflation. Beginning next month, Jiangsu Province will increase minimum wage levels from RMB850 to RMB960, the same level Shanghai and Hangzhou...
Tax Clearance Requirements when Leaving Hong Kong
Posted on January 28, 2010HONG KONG, Jan. 28 – For employees chargeable to tax and intending to leave Hong Kong for more than a month, the Inland Revenue Department (IRD) requires at least 1 month notification before departure to settle all tax liabilities. This applies to cases when a taxpayer intends to migrate to another country or to study or [...
China Revises Job Qualifications for Insurance Company Executives
Posted on January 27, 2010Jan. 28 – China has revised job qualifications for directors, supervisors and senior executives to be employed in insurance companies effective April 1. The new regulations consolidates regulatory compliance requirements for executive jobs, requiring more years of work experience in the fields of economics or finance...
Shanghai Expo 2010: The Norwegian Pavilion
Posted on January 03, 2010The 2010 World Exposition in Shanghai will be the first registered one in a developing country. Officially known as ?Expo Shanghai 2010,? it will last 184 days and provide China an opportunity to show off its remarkable economic growth. The expo will also give foreign nations and companies a chance to further develop business partnerships [...
Clarifications on Corporate Tax Issues on Liquidation
Posted on January 03, 2010Jan. 4 – The State Administration of Taxation has issued a circular on issues related to corporate income tax (CIT) and company liquidation. According to Circular 684, companies must immediately inform local tax authorities of the time they enter the liquidation period...
China?s Internet ?Whitelist? to be Business Registration Procedure
Posted on January 02, 2010Commentary Op/Ed: By Chris Devonshire-Ellis Jan. 3 – With the news that China’s Ministry of Information has promulgated regulations requiring the registration of all websites in China prior to them being permitted for public access viewing in the country, the regulations provide for certain new requirements to be levied on foreign invested businesses if they wish [...
China?s Mixed Signals in a Strange Year
Posted on December 31, 2009Op/Ed Commentary: Chris Devonshire-Ellis Dec. 31 – As we look back on 2009, the year ends with a more upbeat feel to it than 12 months previously when the true impact of the global recession was making its scale apparent. However, 2009 was a strange year and it is with a mixture of some relief [...
China Capital Gains Tax May be Levied on Indirect Share Disposals Offshore
Posted on December 29, 2009Dec. 29 – The Chinese tax authorities may impose withholding tax on non-resident enterprises that indirectly dispose equity interests in Chinese resident enterprises outside China if there is an abuse in the form of organization. Issued on December 15, the circular Guoshuihan [2009] No...
China Passes Tort Liability Law
Posted on December 28, 2009Dec. 28 – China passed a tort liability law on December 26, regulating liability and compensation for injuries caused by defective products, unruly animals and collapsing buildings. The Tort Liability Law of the People’s Republic of China, passed during the 12th Session of the Standing Committee of the 11th National People’s Congress, states that project owners [...
China Launches World?s Fastest Train Route
Posted on December 27, 2009Dec. 28 – The rail link between Wuhan and Guangzhou opened on Saturday in what is described as the world?s fastest train service covering a distance of 1,068 kilometers at the average speed of 350 kph (217 mph). The distance between the two cities can now be covered in two hours, 45 minutes, and cuts the [...
China Adjusts Home Ownership Transfer Taxes
Posted on December 24, 2009Dec. 24 – The Ministry of Finance and the State Administration of Taxation released on Tuesday, a circular, adjusting the business tax on individuals who transfer ownership of the houses in China. The circular, ?Adjusting Business Tax Policies for Individuals Transferring their Ownership of Houses,? stipulates that individuals transferring the ownership of their non-common houses which [...
China to Maintain Export Tax Rebates in 2010
Posted on December 22, 2009BEIJING, Dec. 23 – China on Tuesday announced it will maintain its export stimulus measures such as export tax rebates in 201o. The Ministry of Commerce stated that many problems remain and that it would be difficult for external demand to return to pre-crisis levels without continued government intervention...
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