Shanghai
Shanghai has moved from a pilot approach to a formally implemented stage with the introduction of a new normative document for advanced tax rulings (ATR). Building on the experience of the earlier trial measures, the new measures expand the eligible…
The Ministry of Finance, the State Administration of Taxation (SAT) and the Ministry of Commerce have jointly released announcement on the tax credit policy for direct investment by overseas investors using distributed profits (Tax Credit Policy) on…
The Chinese current rules allow issuing a Tax Residency Certificate solely for claiming tax treaty benefits. While this is the primary purpose, there are various legal, financial, and regulatory reasons for Chinese tax residents to provide this…
After rounds of public consultation, the Value Added Tax Law of the People's Republic of China was announced on 25 December 2024 and will be effective from January 1, 2026. As one of the most important type of taxes in China, it is a remarkable…
This newsletter highlights key recent developments in China’s laws and regulations. Specifically, it focuses on the laws and regulations related to foreign investment, market access, foreign debt administration, data economy, privacy and…
Under China's tax laws, non-resident companies generally face a 10% tax on China-sourced dividends, but avoidance of Double Taxation Treaties with countries like Spain or France can reduce this to 5% if specific conditions are met. These companies…
China’s State Administration of Taxation announces the 2023 individual income tax filing period for residents, detailing circumstances that a taxpayer is obliged to report, with options for self-filing, employer-assisted, or trustee handling.
On December 29, 2023, the seventh meeting of the Standing Committee of the Fourteenth National People's Congress voted to adopt the newly revised Company Law of the People’s Republic of China (2023 Revision), which will be implemented from July 1,…
On December 29, 2023, marking the 30th anniversary of the enactment of the Company Law, China released the Company Law of the People’s Republic of China (2023 Revision), introducing adjustments to various aspects, including shareholder capital…
Shanghai introduces a trial Advance Tax Ruling (ATR) system, a significant step in China's tax administration. ATR, common in countries like Spain and the U.S., allows enterprises to seek formal tax opinions on future complex tax matters, enhancing…
In order to facilitate cross-border communication, China has decided to expand the pilot scope of unilateral visa-free countries, and as a result, China’s visa policy will soon undergo significant changes.
In August 2023, there are a number of individual income tax (IIT) preferential policies implemented by relevant Chinese government authorities with either extension of the preferential policy period or increased deduction standards. The aim is to…