Other Briefings
Guangzhou Gov’t Clarifies VAT General Taxpayer Issues
Jul. 21 – The Guangzhou municipal tax bureau recently clarified some regulations affecting VAT general taxpayers during their guidance period. According to the notice, the tax registration office will approve the registered capital, which may refer to the total registered capital if it is the registered capital of a branch. For taxpayers who are not […]
Hong Kong Signs Double Tax Agreements with Eight Countries
HONG KONG, Jul. 12 – Hong Kong has signed comprehensive double tax agreements (DTAs) with eight countries since March. The special administrative region now has DTAs with Brunei, Indonesia, Netherlands, Austria, Hungary, Kuwait, Ireland and the United Kingdom following the exchange of information model from the Organization for Economic Cooperation and Development.
Guangdong Province Moves to Upgrade VAT Collection Software
Jun. 29 – The Guangdong provincial government recently moved to upgrade the means of collecting VAT offset invoices from enterprises. In a circular issued on June 24, the provincial government emphasized the importance of enterprises updating their VAT offset invoices collection software in accordance with the “Notice on the Security System Issues for Newly-Established General […]
Hong Kong Incorporations for Mainland China Business
By Joe Sze HONG KONG, Jun. 11 – Multinational companies looking at the Mainland China market often look at tax efficient or other legal ways to prepare and protect themselves from directly triggering bilateral interactions between the mainland and the ultimate parent company. In such instances, Hong Kong incorporations are a useful tool to utilize […]
State Council Approves Shenzhen SEZ Expansion
Jun. 11 – The State Council has recently approved the application from the Guangdong provincial government, to expand the scope of the Shenzhen Special Economic Zone, effective July 1. Guohan [2010] No. 45, issued on June 8th, further expands the scope of the Shenzhen Special Economic Zone to the entire city, and also include Baoan […]
Shenzhen Raises Minimum Wage
Jun. 10 – The Shenzhen municipal government has raised the monthly minimum wage in the city to RMB1,100 effective from July 1. The notice, which was issued June 8 at the government executive meeting, standardizes the monthly minimum wage level across the city. The minimum monthly wage in Luohu, Futian, Yantian and Hanshan district has […]
Guangdong Gov’t Provides More favorable Conditions for FDI in Province
Jun. 8 – The Guangdong provincial government issued a notice on May 25 regarding the further use of foreign investment, with the aim to boost economic development and social stability in the province. Guofa [2010] No. 9 stipulates that the provincial government will provide a favorable investment environment for foreign enterprises, as well as broaden […]
Mainland China and Hong Kong Sign 7th Supplement to CEPA
Jun. 3 – The China central government and the government of Hong Kong signed the 7th supplement to the Closer Economic Partnership Arrangement (CEPA) on May 27, in an effort to support Hong Kong firms with greater and easier access to the mainland market, in areas such as tourism, securities and banking services. Supplement VII […]
