China Securities Journal stated that the government is planning to consider cutting the value added tax of Vat that are paid by coal companies from 17 percent to 13 percent to further support a sector that is stricken by a slow demand. The 17 percent tax was imposed on coal miners in 2009 after a [...]
Based on official statistics Luohu checkpoints was the most used checkpoint which saw a record number of 361,000 border crossings yesterday. This was the second day of the ongoing Qingming festival and the second day of a five day holiday in Hong Kong which celebrated Qingming and Easter. By 6:30 yesterday the checkpoint had more [...]
China’s Ministry of Finance and the State Administration of Taxation jointly released the Circular Regarding Pre-tax Deduction Policies on Advertising and Business Promotion Expenses, which is retroactively effective from January 1, 2012 and will remain in effect through December 31, 2015. The purpose of the Circular is to address the dilemma faced by enterprises which [...]
China’s State Administration of Taxation (SAT) recently promulgated an announcement concerning the corporate income tax (CIT) treatment for non-resident enterprises in the value-added tax (VAT) pilot reform. The purpose of the Announcement is to clarify the confusion regarding whether the VAT amount should be included in the tax base for withholding tax levied on non-resident [...]
Shenzhen recently released a plan for the local implementation of a new national tax law that will levy a 20 percent tax on profits coming from sales of pre-owned homes. In addition the Guangdong Province Government used a regulation that will toughen restrictions on home prices and have already asked Shenzhen, Guangzhou, Foshan and Zhuhai [...]
The authorities assigned for smoking control in the city will now use surveillance camera in public venues to further monitor smoking and to hopefully encourage the public to take photographs of violators to be used as evidence in reporting smoking violations. The smoking control office will plan to use the campaign as they have agreed [...]
Local police indicated that they are firm on their decision on the implementation of the fireworks ban in the city. during the Spring Festival police will be seen on roads to inspect and create checkpoints in roads leading in to Shenzhen to inspect vehicles for fireworks. Based on the rules, individuals or organizations that sell, [...]
For foreigners working in China, determining the applicability of individual income tax to one’s situation involves decoding a set of intersecting criteria and rules. Following this, you will need to calculate your precise liability and any applicable deductions. Lastly, consulting with a China taxation specialist can help optimize one’s overall income to achieve the most [...]
Another ban on live poultry sales was implemented after the previous 10 day ban that ended Friday, still live poultry sales are seen in the Shenzhen as another case of H7N9 birdflu infection was been reported. This will be the second time in winter that the city implemented a ban on live poultry sales because [...]
The city traffic police issued a total of 3,913 tickets for illegal parking from Thursday and Saturday since heavier fines were implemented in the strict area, the first type of measure in the city. the fines include 645 tickets for 1,000 yuan, 860 tickets for 500 yuan and 473 tickets for 200 yuan. Since Thursday [...]
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