According to China’s Ministry of Commerce, the number of foreign-invested companies newly established in China in the first 11 months of 2021 was 43,370, rising 29.3 percent year-on-year. Gao Feng, a spokesperson of the Ministry of Commerce said that, the relevant departments andRead More
Annual Individual Income Tax declaration will start on March 1st. Q1 Who ? Resident individual whose Tax withheld is more than tax payable in 2021 and the taxpayer would like to apply forRead More
CHINA Minimum wages continue to rise. Starting in 2022, Shenzhen and Henan raised their minimum wage standards from January 1, while Chongqing and Fujian will raise their minimum wage standards from April 1. Meanwhile, Hebei province has announced that it plansRead More
In this article, we introduce the major tax incentives for small businesses, including corporate income tax (CIT) cuts for small and low-profit enterprises (SLPEs), individual income tax (IIT) reduction for small business owners, as well as concessions on value-added tax (VAT) andRead More
HONG KONG Every year, Hong Kong Companies shall complete the profit tax return and submit it to Inland Revenue Department, and usually it’s a coming peak for accounting and audit. Profit Tax ReturnsRead More
The American Chamber of Commerce in China said that a US-China travel fast-track program, which allows for US business people and their families to travel more easily to China amid the COVID-19 pandemic, officially became effective onRead More
Lin-gang Special Area At the beginning of New Year 2022, as the business investment agency, Elite Stage was invited to take part in 2022 China (Shanghai) Pilot Free Trade Zone Lin-gang Special Area InternationalRead More
Negative List China will continue to shorten the negative list for market access this year, as part of the country’s ongoing efforts to optimize its business environment and introduce greater opening-up, according to analysts. The government’sRead More
the Customs Tariff Commission of the State Council (‘the commission’) will adjust import and export tariffs on selected goods in 2022 in a bid to support high-quality development and opening up, the Ministry of Finance (MOF)Read More
To encourage exports, the Chinese government formulated and implemented a series of policies of which the export tax rebate is one of the most important. For trading companies in China, it should pay more attention on export taxRead More
