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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
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: ....

Wang Jianfan , Dezan Shira Associates , China Ministry Of Finance , Industrial Classification For National Economic Activities , Taxation Administration , Tax Administration Department , State Taxation Administration , Further Improving , Pre Tax Additional Deductions , Industrial Classification , National Economic Activities , Cai Shui , Dezan Shira , சீனா அமைச்சகம் ஆஃப் நிதி , தொழில்துறை வகைப்பாடு க்கு தேசிய பொருளாதார நடவடிக்கைகள் , மேலும் மேம்படுத்துகிறது , தொழில்துறை வகைப்பாடு , தேசிய பொருளாதார நடவடிக்கைகள் , காய் சுய் ,

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
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. ....

Hong Kong , Macau General , Katrina Huang , David Niu , Zoey Zhang , Adam Livermore , Guangdong Hong Kong , Tax Administration , Payroll Services , Dezan Shira Associates , Partner At Dezan Shira Associates , Human Resources Administration , Income Tax , State Tax Administration , Preferential Policy Convergence Problem , Cai Shui , Senior Manager , Dezan Shira , Associate Beijing , Greater Bay Area , Guangdong Hong Kong Macao Greater Bay Area , Free Trade Port , ஹாங் காங் , மக்காவு ஜநரல் , டேவிட் நீஉ , ஸோவீ ஜாங் ,

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
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. ....

Tax Administration , National Development , Dezan Shira Associates , Ministry Of Finance , Reform Commission , Following China , State Tax Administration , Cai Shui , Work Report , Government Work Report , Hubei Province , Dezan Shira , தேசிய வளர்ச்சி , அமைச்சகம் ஆஃப் நிதி , சீர்திருத்தம் தரகு , பின்வருமாறு சீனா , காய் சுய் , வேலை அறிக்கை , அரசு வேலை அறிக்கை ,