Other Briefings
New Issue of Asia Briefing: An Introduction to Development Zones Across Asia
In this issue of Asia Briefing Magazine, we break down the various types of development zones available in China, India and Vietnam specifically, as well as their key characteristics and leading advantages. We then go on to provide a snapshot of the latest development zones across the rest of Asia. We hope that this issue will provide the basic fundamentals to understanding one of the most important business tools available to international businesses operating in Asia.
Shanghai to Create China’s First Free Trade Zone
Jan. 29 – Shanghai’s acting mayor, Yang Xiong, has stated that the city wishes to create Mainland China’s first free trade zone in a three-year development project that will link and upgrade the city’s existing bonded facilities in Pudong. The plan has apparently already been approved by the central government and was introduced at the […]
Jiangsu Releases Circular on Collective Acceptance of Taxpayers under VAT Reform
Jiangsu Province released the “Circular on the Collective Acceptance of the Taxpayers in the Pilot Collection of Value-Added Tax in Lieu of Business Tax” on November 7, aiming to promote the smooth implementation of the pilot collection in the province and effectively reduce the burdens of taxpayers and the state tax authorities at basic level.
Jiangsu Province Releases Announcement on Transitional Tax Policies
Jiangsu Province released the “Announcement on Operation Details of the Transitional Preferential Policies in the Pilot Collection of Value-added Tax in Lieu of Business Tax in Transportation and Certain Areas of Modern Service Industries” on October 15, which is retroactively effective from August 1, 2012. Key information taken from the Announcement can be found here.
Jiangsu Province Issues Guidance on General Taxpayer Recognition
Jiangsu’s Provincial Office of the State Administration of Taxation recently released an announcement clarifying issues regarding general taxpayer recognition under the value-added tax (VAT) pilot program in Jiangsu Province.
Shanghai Issues Guidelines on Wage Increases for 2012
The Shanghai government issued a notice on May 21, specifying the government’s suggested 2012 wage increases for enterprises in Shanghai.
Shanghai Issues Trial Procedures for Consolidated CIT Payments by Headquarters
Shanghai’s state and local tax bureaus have issued trial procedures applicable to headquarters in Shanghai that operate trans-regionally and pay CIT on a consolidated basis. It provides for the materials that these headquarters should submit for the filing of branches’ allocation proportion of CIT.
China’s Headquarters Economy: A New Path towards Industrial Upgradation
By Vivian Ni Mar. 15 – China, the world’s largest production base, is no longer satisfied with lying at the lower levels of global supply chains and holding just the manufacturing arms of MNCs. Instead, the country has begun offering a warmer welcome to foreign-invested enterprises (FIEs) that actually bring their “brains.” Foreign-invested headquarters (HQs) […]
