VAT Reform Started in Shanghai Since 1 Jan 2012

Relevant Rule: ‘Notice of the Ministry of Finance and the State Administration of Taxation on Issuing ‘the Plan for the Pilot Practice of Levying Value Added Tax in Lieu of Business Tax’’ Cai Shui [2011], No. 110; 
‘Notice of the Ministry of Finance and the State Administration of Taxation on Carrying out the Pilot Practice of Levying Value Added Tax in Lieu of Business Tax on the Transportation Industry and Some…

Further Tax Reduction on Transaction of Assets Reorganization

According to the announcement of SAT on 26 September 2011, in the process of assets reorganization, transferring of all or partial physical assets and the related claims, liability and labor force to other enterprises or individuals through merger, division, sale or replacement, does not belong to the scope of levying business tax…

More Flexible Policy on Deduction of Input VAT Invoice

According to the announcement of SAT on 4 September, 2011, for input VAT invoices issued after Jan 1st 2007 by the general taxpayer, of which, due to reasons recognized by tax authority, have not been deducted from output VAT within the tax-permitted period, after being verified by SAT, the deduction can be continued. Lee & […]

Expatriates working in China Shall Participate in Chinese Social Insurance Scheme

According to Article 97 of Social Insurance Law applied since July 1st,2011, expatriates working in China shall participate in social insurance schemes.
Lee & Lee Associates Comments: The implementation of Social Insurance Law obviously will increase the operation cost of employers who hires expatriates…