Shanghai Municipal People’s Government Announcement (2014 No.1) Based on relevant laws and regulations, the General Plan for the China (Shanghai) Pilot Free Trade Zone adopted by the State Council, Measures for further Liberalisation of the China (shanghai) Pilot Free Trade Zone, the Foreign Investment Industrial Guidance Catalogue (Amended in 2011), the Shanghai municipal government released […]
Asia Pacific region is the most dynamic investment destination. If you want to invest in the region but don’t know how, please click the link below to find the information you need. This is a series of newsletters and this one is “Establish a Business in Asia Pacific Region”. More interesting topics will follow up […]
The new Chinese Company Law comes into effect from 1 March 2014 revises the content about registered capital and paid-in capital. The main changes are as follows: 1. The paid-in capital shall not be listed on business license anymore. 2. The registered capital can be injected as stipulated in the Company’s Articles of Association instead of being […]
More and more clients are requesting Lee & Lee Associates to provide HR support for their daily HR management, not only the functional tasks such as social welfare management, salary and tax planning, people release planning and negotiation, but also some strategic consulting on people hiring and retaining. Here are some important tips that we […]
According to BSTB Bulletin [2013] No.22, following cross-border services are exempt from VAT: Geotechnical investigations, surveying and exploration services for projects and mineral resources located outside China. 2. Services for Conference and exhibition (including relevant conference/exhibition management services) located outside China. 3. Services for warehousing located outside China. 4. Leasing of tangible and moveable goods […]
Effective from 1 August 2013, VAT reform is expanded to nationwide in P.R. China after trial implementation in Shanghai City and other 8 provinces or cities in 2012. Furthermore, there are three new updates: 1) radio, film and TV production, distribution and broadcasting are included in the taxable services, which apply to 6% VAT rate; […]
Research and Development (“R&D”) costs items can be deducted before tax with further 50% amount according to the prevailing PRC tax law. These items are clarified on 29 September 2013 and became retrospectively effective since 1 January 2013. These costs comprise: 1) The statutory basic pension insurance, basic medical insurance, unemployment insurance, work-related injury insurance, […]
During the course of our working with clients as professional accountants, we noted that some new companies mostly focus on sales and marketing instead of hiring professional accountants at the beginning stage of business, resulting in a number of problems. Here are some examples. 1. Foreign exchange issues. At the early stage of many Foreign […]
Invitation to 5th Expat Services Expo and International Culture Carnival Dear Sir/Madam, We are pleased to invite you to the must visit, well loved and exciting 5th Expat Services Expo and International Culture Carnival which is again taking place from 12 noon on Friday 13th until 6pm on Sunday 15th September. We will be there waiting […]
1.【China Hot Topic】If one’s vehicle and vessel tax is withheld by insurance company somewhere else other than the place where the vehicle or vessel is registered, is it still necessary to pay vehicle and vessel tax to the local tax authority where the vehicle or vessel is registered? 【Lee & Lee Associates Insights】According to the […]
