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China's New Stamp Tax Law: Compliance Rules, Tax Rates, Exemptions china-briefing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from china-briefing.com Daily Mail and Mail on Sunday newspapers.
GBA's Shenzhen Qianhai Extends 15% CIT for Qualified Enterprises Until End of 2025 china-briefing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from china-briefing.com Daily Mail and Mail on Sunday newspapers.
China Raises Pre-Tax Additional Deductions for R&D Expenses of Manufacturing Firms China Raises Pre-Tax Additional Deductions for R&D Expenses of Manufacturing Firms April 15, 2021 Posted by China Briefing Written by Zoey Zhang Reading Time: 3 minutes On April 7, 2021, China’s Ministry of Finance (MOF) and State Taxation Administration (STA) jointly released the Announcement on Further Improving the Policy for Pre-Tax Additional Deductions for R&D Expenses (MOF SAT Announcement [2021] No.13). The announcement, with retrospective effect from January 1, 2021, increases the ratio of additional deduction on manufacturing firms’ R&D expenses from 75 percent to 100 percent. According to the announcement, for R&D expenses actually incurred by manufacturing firms: ....
Some Tax-Exempt Benefits for Expats in China to Expire Next Year: Prepare for Possible Transition Some Tax-Exempt Benefits for Expats in China to Expire Next Year: Prepare for Possible Transition April 14, 2021 Posted by China Briefing Reading Time: 6 minutes However, due to the implementation of the Amended PRC Individual Income Tax (IIT) Law and relevant regulations from January 2019, certain non-taxable benefits-in-kind will be replaced by additional itemized deductions for some expatriates, while other non-taxable benefits-in-kind might cease to be exempt from IIT from next year. The policy change has sparked concerns among foreign individuals as well as their employers, who may face an increase of tax burdens or labor costs. This article explains the implications of the changed policy and provides suggestions from tax, HR, and legal perspectives. ....
China’s Tax and Fee Cuts Extended or Released After 2021 Two Sessions China’s Tax and Fee Cuts Extended or Released After 2021 Two Sessions April 13, 2021 Posted by China Briefing Written by Zoey Zhang Reading Time: 7 minutes Following China’s 2021 Two Sessions, the State Tax Administration (STA) and the Ministry of Finance (MOF) extended a package of expired or to-be-expired preferential tax and fee policies as well as rolled out new structural tax and fee cut measures, aiming to offset the impact of the government’s post-pandemic economic policy adjustments. On April 7, 2021, the two authorities released the SAT Announcement [2021] No.8 and the MOF SAT Announcement [2021] No.12, which further lower corporate income tax (CIT) liability of small and low-profit enterprises and of individual businesses. ....