In November last year I commented, in a post entitled “Bamford – special leave granted” (what an exciting title), on a significant Australian tax case that was about to go before the High Court of Australia. The High Court today issued its decision in that case – see Bamford v FCT [2009] FCAFC 66 (3 [...]
I have not entered into the debate over the present value of the RMB and the push by the US for it to be raised. There are many more eminently knowledgeable people than me in this area so I will leave such discussion to them. However, I came across an excellent entry at the Perspectives [...]
After the last few weeks I have given some thought about Circular 18 and whether I think the changes are appropriate or not. I have now decided that I am not a fan of it. Why? Because it perpetuates the notion, which is incorrect as a matter of law, that representative offices (ROs) in China [...]
I recently came across a PWC article on the new protocol to the China-Barbados DTA that indicated DTAs can restrict and preclude the GAAR in China. I have extracted the relevant information below (I reducted information not relevant to the point I am making)
Description /
Income stream
China-Barbados DTA
Existing DTA
(effective since 27 October 2000)
Protocol
(not [...]
One of the difficult problems with tax in China is that a raft of circulars, regulations and measures are issued on a yearly basis and it usually not clear to what extent such circulars, regulations and measures replace previous rules. The SAT has now recognised this problem and indicated that in the future repealed circulars [...]
As of 18 days ago, foreign invested partnerships or FIPs (all investment vehicles in China must have an acronym) are now a permitted investment vehicle in China. I wrote about the introduction of FIPs last year and the possible tax advantages in a post entitled “Too much choice is never enough”.
Geraldine Putra-Johns on her blog [...]
As like all of you (I imagine) I am an avid reader of Dan Harris’ writing at China Law Blog. Given that CLB is the king of legal blogs it is not necessary for me to promote it. Recently, Dan wrote a blog on the representative office problem in China. The entry is itself is [...]
I am a terrible golfer but I do love the game. Like in many sports, one of the keys to golf (as I am led to understand) is to “play within yourself”. This is a common sports phrase and generally means that you should not overreach. It is particularly applicable in golf because the game [...]
During my time in China, I have always been amazed at the types of China tax news that the mainstream Western media reports on. The past few months have seen further examples – we have seen reports on the lifting of the exemption for restricted share, the tax on cars over 1.6 litres and the [...]
I have just added english translations of two new measures issued by the SAT to the Measures and Circulars page. These measures are the new rules relating to the taxation of representative offices and non-resident enterprises:
Guoshuifa [2010] 18 – Notice of the State Administration of Taxation on Issuing ‘Interim Implementing Measures Regarding Tax Management on [...]