Other Briefings
China’s Software Developers Can Enjoy VAT Refunds
Starting on January 1, 2011, enterprises which develop their own software products or redesign imported software products can have part of their value-added tax refunded, said China’s State Administration of Taxation and Ministry of Finance recently.
Alberto Vettoretti Named International Advisor to the Guangzhou Government
Nov. 3 – On October 12, Alberto Vettoretti, Managing Partner of Dezan Shira & Associates and Vice Chairman of the European Union Chamber of Commerce (Pearl River Delta Chapter) has been nominated as International Advisor to the Guangzhou Government in a ceremony held in Nansha District, Guangzhou. At the closed-door meeting, chaired by leaders from […]
Hong Kong and U.S. Sign Mutual Recognition Agreement for CPAs
By Vivian Ni Oct. 28 – The Hong Kong Institute of Certified Public Accountants (HKICPA) and its U.S. counterpart recently struck a mutual recognition agreement (MRA), which enables both sides to recognize the accounting qualifications obtained in each other’s jurisdiction. The move is believed to be a great stride in advancing the reciprocity of CPAs […]
China to Allow Issuance of Local Gov’t Bonds
China debt institutionalizing as bank default fears loom Oct. 21 – China’s Ministry of Finance has instigated a trial program that will allow four select local governments to issue bonds directly. To date, this route to raising funds has been banned, however rising debt levels and bank loans about to fall due have made the […]
China Bails Out Its Banks
Oct. 12 – Beijing has used the state-owned Huijin Sovereign Wealth Fund to purchase stocks in China’s four largest banks – Agricultural Bank of China, Bank of China, Industrial & Commercial Bank of China, and China Construction Bank – in moves made to support the share prices of each of the banks, as well as […]
Dongguan Clarifies Terms for IIT Declaration
The Dongguan Municipal Local Taxation Bureau issued a notice explaining certain terms in the individual income tax declaration process.
Free China Expat Culture Book Download
Sept. 30 – China Expat, China Briefing’s sister site covering all things concerning the interaction between overseas expatriates and Chinese culture, celebrates 10 years of existence this year and has released a complimentary book – “China Expat – A Decade of Writing: 2001-2011” – with a selection of articles contributed to the title over the […]
Dim Sum Bonds Set to Gain Hong Kong Popularity
Sept. 12 – Several Chinese banks, including China Construction Bank (CCB), are preparing to make use of the new offshore RMB yuan bond market – the so-called “dim sum” bonds. The launch of the first significant tranche of dim sum bonds – bonds denominated in RMB but issued in Hong Kong – is expected to […]
