Other Briefings
China’s Tax Incentives to Support the Education Sector
China has issued a guidance note that summarizes the available tax incentives for businesses and enterprises in the education sector. We list these 28 tax incentives and their relevant policy basis.
Additional Compliance After Completing China’s Annual CIT Filing
We discuss which supporting documents must be retained for continued access to China’s tax incentives and the importance of collecting and preserving relevant documentation for asset loss deductions.
China Monthly Tax Brief: June 2023
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.
China Extends NEV Tax Reduction and Exemption Policy to 2027
China has extended its tax exemption policy for new energy vehicles (NEVs) until 2027, demonstrating its commitment to promoting the electric vehicle (EV) industry.
Does Your Business Qualify for China’s Reduced 15% CIT Rate? Defining “Substantial Operations” in Key Development Zones
To be eligible for the reduced 15% corporate income tax rate, companies must prove they have “substantial operations” in certain areas. We explain what the requirements are.
IASB Allows Temporary Exception to Reporting Requirements for Deferred Taxes Related to BEPS 2.0
The IASB has amended the IFRS accounting standards to allow a temporary exception to reporting requirements for deferred taxes under the Pillar 2 model rules.
China Further Expands Currency Conversion Program for MNCs
China’s cash pooling pilot program has expanded to give MNCs more freedom in currency conversion and cross-border use of funds. It will reduce currency exchange risks and financial costs and helps advance the internationalization of the RMB.
Applying for the Preferential Individual Income Tax Policy for High-End and In-Demand Talent in Hengqin, Zhuhai
The Hengqin Cooperation Zone in Zhuhai, Guangdong has released a guide to applying for the preferential IIT policy for high-end and in-demand talent.
