Other Briefings
Foreign Bank to Issue First China Debit Card
May 15 – Hong Kong’s fifth-biggest lender, Bank of East Asia, is set to become the first foreign bank approved by Chinese regulators to offer debit card services in the country by next week. “We will target both our existing customers and new clients (in China) for the local currency yuan-denominated debit card issuance, which […]
China clamps down on stamp duty in bid to boost market
SHANGHAI, April 24 – The central government lowered the stamp duty on stocks from 0.3 percent to 0.1 percent today in an effort to stabilize the market. China also introduced two new rules to tighten securities management in a move to restore investor confidence in the beleaguered stock market. “After the recent drops in share […]
New 2008 China Tax Guide out now
Third updated edition of the best selling handbook April 9 – The brand new, updated version of our popular China Tax Guide is now available with a complete overview and updates bringing it right up to the moment in dealing with China’s tax laws as they affect foreign investors. This is the third edition of […]
SAT issues circular on provisional CIT filing for enterprise branches
April 7 – China’s States Administration of Taxation recently clarified provisional corporate income tax (CIT) filing for branches of Chinese resident enterprises. Guoshifa [2008] No. 28 applies to resident enterprises which maintain operating branches or establishments in multiple provinces. Headquarters and second-tier branches with business operations are required to file provisional monthly or quarterly CIT […]
China commodities exports to slow as domestic economy warms, imports to increase
China developing quietly as worlds largest commodities trading center Mar. 25 – Amidst the on-going rhetoric about China’s trade imbalances, a little understood, but significant revolution is underway – the massive emergence of China as the worlds largest commodities trading center. Global commodities markets have seen prices of goods such as basic fuels, grains and […]
Expatriate Individual income tax filings: Tax paid certificates must be issued end of month
One week left to file IIT returns on income in China Mar. 24 – Pictured at right is a tax paid form for individual income tax filings for 2007. These are sent to the place of work or residential address of expatriate individuals who have been working in China and who are subject to declaration […]
Chinese banks strengthen reserve ratios
China reserve requirement ratios now 5.5 percent higher than U.S. norm By Chris Devonshire-Ellis BEIJING, Mar. 21 – The Chinese government has announced its 15th increase since mid 2006 of the minimum reserve ratio deposit lenders must hold in reserve, to a record high of 15.5 percent. This compares to the United States, reeling from […]
Income tax on securities trading exempted
Mar. 21 – In a move aimed at boosting the current gloomy stock market, China will not levy a tax on corporate earning from securities trading at the moment. Income from stock and bonds trading by securities investment funds will be free from corporate income tax for the time being said a statement released by […]
