Tag: taxes

TAX NEWS: China streamlines tax declaration forms for indirect taxes from 1 August 2021

On 13 July 2021, the State Taxation Bureau issued the Notice on the Consolidation of the Declaration Forms for Value-added Tax, Consumption tax, Urban Construction, and Maintenance Tax and Educational Surcharges (“Notice No. 20”) effective from 1 August 2021. The consolidation of the declaration forms falls in the wider reforms to streamline tax collection and…

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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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