Tag: 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’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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China VAT rate reductions in effect from 1 May

This post is part of Horizons ongoing sharing of important information related to the implementation of China VAT reforms. China business enterprises within 17% and 11% value-added tax rates subject to a 1% reduction On the 4 April 2018, the Ministry of Finance and State Administration of Taxation jointly announced (Cai Shui [2018] No. 32) that…

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Guidelines for China outbound investment

In recent years, China outbound investments have grown rapidly. Encouraged by the Belt and Road Initiative launched by President Xi Jinping in 2013, Chinese enterprises have sought overseas investment and cooperation to facilitate the growth of Belt and Road. As a result, the investment of relevant products, technologies and services assisted the transformation of the…

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