Other Briefings
Dezan Shira & Associates global network billing reaches US$1.6billion in 2007
Big Four staff moving to larger boutique firms as industry focus shifts LAS VEGAS, Jan. 22 – The Leading Edge Alliance firms yesterday revealed their total billing for professional services globally reached US$1.6 billion for 2007, an increase of 21 percent over 2006 figures. Dezan Shira & Associates, the Alliance’s largest Asian practice announced individual […]
China to introduce resource tax system in 2008
Jan. 11 – Details of a new resource taxation system will be announced this year, an official with the State Administration of Taxation said on Thursday. While the system is still being finalized, it may include a shift to taxation by price instead of volume and an expansion of the category of taxable resources Xinhua reports. The […]
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 audit regulations – Filings shortly due
Getting prepared for your annual audit inspection By Chris Devonshire-Ellis BEIJING, Dec. 19 – All foreign invested businesses in China are required to prepare annual financial statements, including balance sheets and income statements for their annual Chinese audit. Such accounts must be in accordance with the Chinese accounting standards for business enterprises – there are […]
China 2008 annual renewals due: Are you up to speed?
Government departments need your reports for various business license renewals By Chris Devonshire-Ellis It’s that time of year again folks, timed right at the end of the calendar year, and just when westernized business administrators are thinking of skiing holidays, the kids at home and New Years parties – the atheist, yet pragmatic Chinese government […]
China publishes implementation rules for new corporate income tax
By Andy Scott SHANGHAI, Dec. 14 – China’s State Council approved the long-awaited implementation rules for the country’s new corporate income tax law on December 6. The Detailed Implementation Regulations, prepared by the Ministry of Finance and the State Administration of Taxation, contains eight chapters and 133 articles. Here we look at some of the […]
Breach of Regulation #43 causing problems for FIEs’ tax holidays
By Andy Scott Dec. 7 – As China moves to implement the new corporate income tax regulations, many FIEs are losing their tax holidays as the State Administration of Taxation puts them under increased scrutiny ahead of the new law’s implantation. China’s tax authority has increasingly focused on FIEs that previously enjoyed tax relief. As […]
Tax breaks disappear in draft of corporate income tax implementation rules
By Andy Scott SHANGHAI, Nov. 15 – China has drafted executive regulations for a new corporate income tax law that will harmonize the domestic and foreign rates, and the final draft has been submitted to the State Council for approval, the China Securities Journal reported on Wednesday, citing an expert close to the issue. The […]
