Category: Tax

Regulation Alert: Expansion of the coverage of Preferential Income Tax for Small Low-profit Enterprises

In summary: On 11 July 2018, the Chinese Ministry of Finance (MOF) and the State Administration of Taxation (SAT) jointly released the Circular on Further Expanding the Coverage of the Preferential Income Tax Policy for Small Low-profit Enterprises [Caishui 2018 No. 77] (Circular No.77). The previous RMB 500,000 upper limit on annual taxable income for…

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China announces additional import tariff cuts aimed as a win-win strategy for both local and foreign companies

On 30 May 2018, China’s State Council announced a second round of import tariff cuts on a range of consumer goods. Effective from 1 July 2018, the tariff cuts, as affirmed by the Ministry of Finance (MOF), aim to boost domestic consumption and advance China’s supply-side reforms. In total 1,449 product categories from preferred nations…

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China’s new Tobacco Tax Law comes into effect 1 July with emphasis on reducing the detrimental effects of smoking on society

In past years, the Chinese government has taken several steps to curb the impact of smoking. China is home to more than 300 million smokers consuming more than one-third of the world’s cigarettes. What’s more, an estimated 740 million are exposed to second-and smoke. The detrimental impact of smoking on physical health and well-being, as…

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Smoothing the path to cross-border business connectivity: Horizons’ Roberto Gilardino discusses the China Collaborative Group

During 2018, Horizons remains highly focused on the efforts of its newly formed China Collaborative Group (CCG). The multidisciplinary legal services collective is designed to provide Chinese clients with cohesive strategic solutions that facilitate cross-border investment under the Belt and Road Initiative and other global economic trade platforms. The Square talks with Roberto Gilardino, Horizons…

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