Tag: China business

China business: cross-border withholding tax 101 — ‘My company in England provides services to a China-based company. Why is 10% deducted from the service fee?’

Today’s globalised economy enables companies to provide services across the world. Cross-border business to business (B2B) often takes place via email or other digital communications, such as Skype, WeChat or other messaging and talk platforms. What's more, monetary transactions are equally carried out primarily using online banking. All in all, B2B moves fast in the…

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China business: new version of business license goes into to effect, improved format includes QR code

On 24 December 2018, the China State Administration for Market Regulation issued the Notice of Activation of the New Business License Version, Business and Industry Enterprise [2018] No. 253 (Notice 253). From 1 March 2019, entities approved by the registration authority for business registration, business amendments or reissue of a business license shall be issued…

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China business: corporate seals explained

In practice, the corporate governance of a company in China is established in the utilisation of a company’s corporate seals and company seal policies. The corporate seal, often called a "chop", represents an unlimited power of attorney vested in the holder of the corporate seal(s). Once the seal is affixed to a document, the company…

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