Other Briefings
Conducting Due Diligence on Chinese Financial Statements
By Sabrina Zhang Jun. 10 – When it comes to conducting due diligence on Chinese financial statements, it is common to find that accounts have often been incorrectly prepared. In order to gain a better understanding of the value of the business, adjustments need to be made. In this article, we will focus on understanding […]
Hong Kong Professor Charles Kao Wins Nobel Prize for Physics
HONG KONG, Oct. 9 – Chinese University Professor Charles K. Kao has been awarded the Nobel Prize for Physics. Kao, along with Willard Boyle and George Smith won the prize for pioneering “masters of light” work on fiber optics and semiconductors, the Nobel jury said. The Hong Kong-based Kao and his two American counterparts were […]
China Industry: Feb. 26
Feb. 26 – This is a regular series of relevant industry news from around China. Solar power According to a report by Bharat Book Bureau, in 2008, the additional installed capacity of wind power in China was 6.3 GW and the total installed capacity reached 12.2 GW. The total installed capacity of wind power in […]
China Likely to Initiate More Tax Cuts
Dec. 9 – Policymakers convening in Beijing for the annual Central Economic Work Conference may initiate more business tax cuts to boost the slowing economy, reports China Daily. There are reports from a source close to policymakers saying that business tax for companies may be lowered by 1 percentage point from the current 5 percent. […]
Salary Structuring and Payment of Employees in China
By Adam Livermore June 9 – Foreign investors in China have become more ambitious over the years in terms of the kind of projects they are carrying out. We are seeing a gradual shift from low-value added manufacturing enterprises to high-value technology and service operations. One of the main challenges investors have to adapt to […]
Filing annual individual income tax returns in China
By Smile Yu/Dezan Shira & Associates BEIJING, Jan. 2 – Early in 2008, expatriate employees in China with annual incomes in excess of RMB120,000 (about US$16,200) should complete an annual self-declaration to be submitted by the end of March – at the latest – for their income earned in the 2007 tax year. This annual […]
China’s anti-monopoly law
By Stefanie Knirsh/Dezan Shira & Associates BEIJING, Oct. 23 – Set to take effect August 1, 2008, China’s new anti-monopoly law aims to protect market competition by regulating price-fixing and other forms of collusion, and providing for investigation and prosecution of such practices. The new law, passed on August 30, 2007 by the National People’s […]
New IIT systems for expatriates come online in Shenzhen
By Eugenia Wu/Dezan Shira & Associates SHENZHEN, Sept.28 -The Shenzhen tax bureau has changed its IIT declaration systems for companies with high payments. The two new systems – IIT withholding and Yi Cai Shui (easy tax) – came into effect in July, 2007. The Yi Cai Shui system transmits data from IIT withholding to the […]
