Word from Tax Expert Specialists
In filing the Annual Corporate Income Tax return and whilst the Corporate Income Tax law has been effective since 1 January 2008, there have been many new tax notices released in the past year which seek to clarify and/or extend the tax treatment on certain types of income and expense items (e.g. commission, asset losses etc.)
The Chinese tax authorities have tightened the monitoring on what expenditures taxpayers are claiming as tax deductions and also stringently enforcing the lodgement deadline. In some local practices, the lodgement deadline may even be earlier than 31 May, 2010.
Accordingly, with the lodgement due date for the 2009 Annual Corporate Income Tax filing fast approaching, small and medium enterprises are faced with the challenges to keep abreast with the recent changes. In addition to understanding the recent changes, being able to understand how to better manage the relationship with corporate taxpayer’ in-charge tax official is also critical to ensure that the tax filing deadline is met.
To learn more about filing corporate income tax and other tax issues for small businesses join KPMG Tax expert Christopher Mak at the AustCham Shanghai SME round table on Wednesday the 24th of March.
For more information and to RSVP to this event please click here.