Other Briefings
Hong Kong, Austria Sign Tax Treaty
May 27 – In the latest of a string of trade deals organized by the Hong Kong government, the Chinese special administrative region signed a trade agreement with Austria on Tuesday that will remove double taxations between the two areas and reduce taxes in a number of sectors. Before the most recent tax treaty was […]
Dongguan Issues New Measures to Encourage Headquarter Enterprises
May 17 – After the first 16 headquarter enterprises set up operations in Dongguan, Guangdong Province, the local municipal government issued the Implementing Measures of Dongguan Municipality for Several Policies on Encouraging the Growth of Headquarters Economy (Trial). The recently issued policies encourage headquarter enterprises to set up business in Dongguan, providing incentives such as […]
From West to East: HSBC’s Geoghegan on China
Apr. 29 – Michael Geoghegan, the group chief executive of HSBC has relocated from London to Hong Kong to oversee the bank’s expansion into mainland China. As many readers will know, HSBC stands for the “Hong Kong and Shanghai Banking Corporation” and its first operations were established in both cities way back in 1865. Yesterday […]
Corporate Income Tax Exempted for Primary Processing of Agricultural Products in Jiangxi
Apr. 23 – The local tax bureau in Jiangxi Province recently announced tax incentives and services to support the construction of Poyang Lake Ecological Economic Zone. Issued on March 31, the preferential tax policies and service measures remove business income tax on the enterprises engaging in growing vegetable and other primary processing agricultural products, as […]
Guangdong Province Revises Business Tax Rates for the Entertainment Industry
Apr. 7 – The Guangdong provincial tax bureau recently issued a notice amending business tax on the entertainment industry. The business tax rates, now 5 percent, 10 percent, and 15 percent based on the entertainment category, are effective from January 1, 2010. For general entertainment including bars, pool halls and bowling alleys, the business tax […]
Annual Audits for ROs Not Required in Zhuhai
Apr. 6 – The Zhuhai tax bureau does not require representative offices to undergo an annual audit for tax clearance purposes. As a result of this lack of an audit requirement, ROs in Zhuhai are able to conduct annual tax clearance without an audit report. This regulation in Zhuhai appears to be unique in China. […]
Hong Kong Signs Tax Treaties with Netherlands, Brunei
Mar. 29 – Hong Kong recently signed tax agreements with Brunei and the Netherlands for the avoidance of double taxation and the prevention of fiscal evasion of income tax. The deals come at the urging of the Organization for Economic Cooperation and Development, which has asked China’s Special Administrative Region to incorporate a more transparent […]
New Bonded Logistics Center Established in Zhongshan
Mar. 29 – The bonded logistics center of Zhongshan became operational at the beginning of 2010 as one of the city’s 11th five-year plan key projects. Under the supervision of the General Administration of Customs (GAC), the bonded logistics center is operated by one legal enterprise. It is also joined by many enterprises which are […]
