Tax Filing Deadlines in China for 2024
The State Taxation Administration made an announcement on the 21st of December 2023, regarding the tax filing and payment deadlines for companies in 2024. In order to remain compliant, companies must ensure that the filings are made correctly and on time, especially to avoid any penalties that may arise. General information on tax filing in […]
China’s Withholding Taxes
Businesses involved in international transactions in China need a clear understanding of China’s withholding tax system. If a company is non-resident and carries out international transactions, withholding tax will be applicable. The withholding tax system in the country is complex, characterized by a variety of regulations and rates that require careful consideration to ensure efficient […]
Annual Audit and Compliance
At the end of the fiscal year, all foreign companies must complete the annual audit and other annual compliance procedures as set out by the Chinese government. The annual statutory requirements in China can be separated into the year-end statutory audit, annual Corporate Income Tax Filing and Annual Publication Report.
Tax on Imports in China
China stands as a bustling epicenter for businesses across a wide range of industries, for foreign investors to partake in its growth and opportunities. If you are at the crossroads of business expansion into China’s vibrant and ever-evolving market, it is critical to understand the intricacies and implications involving import taxes in China. This article […]
Tax updates – August 2023
Be sure to request our Special Report on Taxes in China – 2023 here! With the Chinese government attempting to regain confidence, encourage investment and stimulate economic activity, the Ministry of Finance of the People’s Republic of China had made several announcements related to taxes of individuals and enterprises at the end of August. The […]
China Value Added Tax Law
At the very end of 2022, the Chinese government issued some updates to the current Value Added Tax (VAT) tax law, with a brief review period for public comment. Now that we are well into 2023, the review period is closed, and these changes will be officially enacted within the next few months. What does […]
Taxes on Dividends China
China’s Corporate Income Tax Law regulates taxation for both local and foreign-owned companies. Foreign companies are taxed based on their Chinese-source income, and there is a withholding tax for dividends, royalties, and interests. To repatriate dividends from China, companies must follow the Chinese regulations for foreign exchange control. What is Dividend Withholding Tax in China? […]
VAT China Frequently asked Questions
In light of the constantly changing tax and regulatory environment, and in an effort to provide a better understanding of how VAT works in China, we sat down with Harm Hoonstra, Manager at MSA China, to provide some insights on VAT in China. For a complete overview of VAT in China check out our China […]
VAT in China
China’s VAT system is widely considered to be quite a complex system. Over the past few years, it has undergone and will continue to undergo more developments, in efforts for it to be a progressive tax system. Due to the differences between Chinese and Western accounting practices, it is important for companies operating in China […]
Tax Evasion China
With the Chinese government increasing their efforts on the monitoring of tax evasion, it has become even more important for companies and individuals to ensure they remain compliant with tax laws in China. Learn more about tax evasion, the consequences of it and how to avoid tax evasion in China.
