Publications - Tax
China’s first attempt for Advance Tax Ruling: trail implementation in Shanghai
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…
Latest COVID-19 related regulations and policies in China
Due to the ongoing situation of COVID-19 in China, especially in Shanghai, the Chinese government has introduced more regulations and policies or extended the deadline of the previously issued regulations and policies to further support both the…
China: EIT Preferential Policy for the Small Enterprises with Low Profit
From 1 January 2021 to 31 December 2022, small enterprises with low profit will be subject to EIT of 2.5% on the part of annual Enterprise Income Tax (EIT) taxable income that is no more than CNY 1 million.
China: Promotion for the Input Value Added Tax Credit Refund Policy
According to Announcement (2019) No. 39 issued by Ministry of Finance, State Administration Taxation and General Administration of Customs (Announcement No.39) as well as other related tax regulations, taxpayers that meet the following criteria…
China: Value Added Tax exemption policy for small-scale taxpayers
On March 24, 2022, the Ministry of Finance and the State Administration of Taxation (SAT) issued an announcement regarding the Value Added Tax (VAT) exemption for the small-scale taxpayers that will be applicable from April 1, 2022 till December 31…
Transfer pricing documentation filing obligation in China
Since the tax year of 2021 is ended, Chinese companies, including foreign invested ones, might be required to perform the filing of related party transactions for 2021 with the competent tax authority in 2022. There are four types of Chinese…
Extended period for IIT preferential policy of allowances for foreign individuals
On December 31, 2021, the Ministry of Finance and the State Administration of Taxation have decided to continue that the IIT preferential policy of allowances for foreign individuals (e.g. home visit, housing allowance, children’s tuition fee…
China: Extended period for some IIT preferential policies
On December 29, 2021, the executive meeting of the State Council has decided to continue the implementation of some IIT preferential policies as follows:
Recent Chinese tax regulation updates regarding outbound remittance
Taxpayers should pay attention to the following Chinese tax regulation updates regarding outbound remittance in China: one record filing for multiple remittances under one contract and the cancelation of the Local Tax Surcharges related to…
The new double taxation agreement between Spain and China has also entered into force in China
The new double taxation agreement between Spain and China has now also completed the internal legislative procedure in China, and, thus, has entered into force, according to Announcement (2021) No. 16, which was issued by the State Administration of…
A new double taxation agreement between Spain and China has been published
The March 30, 2021 edition of the Official State Gazette published the new Agreement between China and Spain for the elimination of double taxation, done at Madrid on November 28, 2018.
Individual Income Tax Impact on Change of Tax Residence Status of Non-domiciled Individuals
Due to the worldwide impact of COVID-19 Pandemic, some foreign expatriates working in China are unable to return to work in China or travel abroad for overseas work functions. The extended or shortened staying days in China affect the tax residence…