Implications of China’s Individual Income Tax Reform: IIT calculation, itemized deductions and expat allowances
China released another update to the country’s IIT Law. The new Individual Income Tax (IIT) Law outlines procedures to claim itemized deductions, introduces a new IIT withholding method and finalizes its reform to expatriate allowances.
Common Entry Modes China
Organisations wishing to do business in China may consider establishing a business in the country. In this article we discuss and compare China entry modes.
China’s Negative List and what is its impact on Foreign Investment?
The new Negative List replaced the Catalogue for Foreign Investment in China and relaxed several investment restrictions for foreign investors.
Made in China Roadmap 2025
MIC 2025 plans to elevate the manufacturing capabilities of Chinese firms and aims to promote innovation, self-sufficiency in critical high-end materials, higher quality standards, and “earth-friendly” technology. Background Initially disclosed by the State Council back in 2015, MIC 2025’s goal is to support Chinese manufacturing firms in their bid to “upgrade” their core competencies and transition into more value-added and higher technological capabilities. According to economic information, a Xinhua-run publication, the initial investment was pegged at 100 Billion yuan (approximately 1.5 Billion US Dollars). There are around 25 projects that have been selected to be recipients of financial support ranging from 30 to 50 million yuan each. Key projects, on the other hand, will receive a heftier sum of 100 million yuan.
