In October 2023, seven provinces and cities in China, including Beijing, Hunan, Shandong, Anhui, Qinghai, Ningxia, and Guizhou, announced pilot programs for fully digitalized e-fapiao. We discuss how companies can prepare in this month's China tax brief.
New details on the restructuring of several key State Council bodies shows further consolidation of responsibilities in line with current government priorities.
In August 2023, over 30 tax policies and guidelines were released by China's Ministry of Finance (MOF), State Taxation Administration (STA), and other departments.
We discuss how companies can navigate changes in the Chinese work culture and employee expectations in the aftermath of COVID-19.
In our China Monthly Tax Brief for July 2023, we discuss the extension of some noteworthy preferential tax policies and treatment till the end of 2027.
In our China Monthly Tax Brief for June 2023, we discuss the VAT Law, Tariff Law, GBA IIT subsidy, and nationwide expansion of the fully digitalized e-fapiao. Further, China companies can now enjoy additional deduction of R&D expenses in July as well.
Authorities in Mainland China and Hong Kong have announced the launch of northbound trading of the Swap Connect, enabling foreign investors to access the mainland's IRS market.
Travel during the 2023 Chinese Labor Day Holiday has rebounded to 2019 levels, marking the recovery of the domestic tourism industry.
New trial measures may facilitate more Chinese companies to list on overseas stock exchanges by standardizing a previously legal grey area.
Chinese New Year 2023 will be the first time in three years many people can travel, but will the lifting of COVID restrictions really bring a rebound in travel and consumption?
We discuss five key Chinese industries with the potential for rapid growth in 2023
US regulators have gained access to the audit documents of Chinese companies for the first time ever, preventing possible forced delisting from US stock exchanges.
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