Are all contracts subject to stamp duty? No, stamp duty is only applicable to the categories listed in the Stamp Duty regulation. Others not listed are not subject to stamp duty. If a contract is not executed, is it subject to the stamp duty? No, stamp duty should be recognized when the contract is signed […]
In order to manage the overseas Non-governmental organizations’ (“NGO”) office establishment and temporary activities filing within the mainland of China, a Guidance was issued by the Public Security Ministry and became effective on 1 January 2017. The guidance regulated that qualified foreign NGOs may apply for the establishment of representative offices in China. Lee & […]
From 1 March 2016, for A level general VAT taxpayers, they are not compulsorily required to do VAT input official receipts certification via scan method any more. Instead, they can access the VAT official receipts query system to query and select relevant information to declare deduction or export tax refund. If that information is not […]
Effective from 1 May 2016, VAT reform is expanded to all services and nationwide in P.R. China. However, not all the VAT can be deducted even the special official receipts could be obtained from the new VAT taxpayers. Input VATs of the following items are not deductible: 1) The catering and passenger transportation service; 2) […]
Since 1 October 2016, for foreign-invested Enterprises’ Establishment and Administration Change, as long as they are not relating to state special permit, there is no need for approval any more. Instead, only filing is required. Lee & Lee Associates Insights: From approval to just filing, this measure shall significantly streamline administrative establishment process for enterprises. It […]
Small-scale tax payer’s tax filings are simplified since 1 April, 2016 with following measures. On quarterly basis, not current monthly basis, VAT small-scale taxpayers shall do filing for VAT, consumption tax, public cultural construction tax and the relevant surtaxes. If a taxpayer does not prefer to do the filings on a quarterly basis, then the […]
A new Expatriate Services Report was published by Alliott Group on 4 July 2016. Alliott Group is a leading international alliance of professional services firms, in which Lee & Lee Associates is the local affiliated member in China. The report targeted at the needs of senior executives working for internationally focused SME businesses and provides […]
On 19th April 2016, SAT issued the 23rd Announcement. It specifically regulated the exemption of VAT for small-scale VAT payer after switching from Business Tax to VAT. The small-scale VAT payer should separately account for the 2 categories of revenue – 1) the sales for selling goods, provision of service of processing or repair, and, […]
Beijing Administration of Foreign Experts Affairs (“the Center”) started to use a new information system (“the System”) since 4 January 2016. All the companies are required to use the System to deal with any application for Working Permit. The System is mainly dealing with companies’ filing information; applications for employment license/working permit/expert certificate of ordinary […]
During the period from 1 October 2015 to 31 December 2017, Small and Thin-profit Enterprises, of which annual taxable income falls between RMB 200,000 and RMB 300,000 (inclusive), can also enjoy the privileged corporate income tax policy: pay corporate income tax at 20% based on 50% of its actual taxable income. For the profit during […]
