The new circular (SAT Announcement  No. 37) comprise following key changes: Canceled the requirement for the payer to register business contracts within 30 days after the contract with non-resident is signed. The calculation method of property transfer income is clarified. Canceled the requirement for the foreign payee to declare withholding tax within 7 days […]
Invited by German Chamber, Ms. Lucy Dai, Accounting and Tax Manager of Lee & Lee Associates, delivered a tax seminar for the Chamber’s members in both Changchun and Shenyang. The seminar talked about VAT management under the impact of the new Phase three of the Golden Tax System as well as VAT audit or query […]
Since 1 May 2018, the VAT rates are adjusted down as below: a) Manufacturing industry: reduced from 17% to 16% b) Transportation, construction, basic telecommunication services industries and agricultural produces: reduced from 11 % to 10%. Lee & Lee Associates Insights: VAT payers should pay attention to below issues: 1) New rates should be applied […]
Lee & Lee Associates is a long-term partner and qualified service provider of Swiss Embassy, and has been providing services of reception and seminar for three consecutive years for the Embassy. The Swiss Embassy and business delegation, altogether 15 people, visited Lee & Lee Associates Beijing Office and participated in a seminar on “How to […]
In order to support the development of small and micro enterprises, VAT small-scale taxpayers whose monthly sales are not more than RMB 30,000 are exempted from VAT from 1 January, 2018 to 31 December 2020 (CaiShui  No. 76).