According to a notice issued by the Ministry of Commerce on February 25th 2011, foreign investors can invest with Renminbi in China to establish new enterprise, increase registered capital of the existing enterprise, purchase domestic enterprises, provide loans, etc . Lee & Lee Associates Comments: To foreign investor, this rule increase ways of RMB utilization and […]
SAFE recently opened the options trading market for RMB against foreign currency. Lee & Lee Associates Comments: Domestic enterprises which shall conduct foreign currency transactions frequently or have material foreign currency assets or liabilities may be exposed to high foreign exchange risk and can consider reduce risk through tools such as that developed by SAFE above. […]
According to a supplementary provision issued by SAT on Jan. 30th 2011, method to calculate unpaid tax for employer’s contribution to the employer’s annuity in previous years is clarified. Lee & Lee Associates Comments: The administration on taxation of employers’ Annuity is strengthened. Even the relevant tax is individual income tax, since the employer shall fulfill […]
