On January 4, 2010, China’s State Administration for Industry and Commerce (“SAIC”) and the Ministry of Public Security jointly issued the Notice on Further Administration of Registration of Foreign Companies’ Resident Representative Offices (the “Notice”). The Notice provides that business operations of representative offices will face higher scrutiny, companies must comply with additional requirements to [...]
Dividend remittance from overseas branches
The circular provides a formula for calculating foreign tax attributable under circumstances where dividends received by a China resident company from overseas branches. Indirect FTC is permitted for a resident company that holds directly or indirectly no less than 20 percent of the subsidiary shares.
Over the weekend I was reviewing [...]
On 25 December 2009 the State Administration for Taxation and the Ministry of Finance issued the “Notice on Foreign Tax Credit Issues for Enterprise Income Tax” (Caishui [2009] No. 125) (“Circular 125”), outlining more detailed rules in respect of claiming foreign tax credit relief under the Enterprise Income Tax Law (“EITL”). Under Article 23 of [...]
China will impose a 20 percent tax on income from the sale of restricted shares, effective Jan. 1, the official Xinhua news agency reported on Thursday, in a move that could offer stability to the stock market.
Income from the sale of ordinary shares, including those in public offerings and secondary trading, would continue to be [...]
Hwuason will be holding a transfer pricing seminar on 21 January 2009 in our offices in Jianwai SOHO. This seminar will look at transfer pricing compliance after a year of the new transfer pricing rules.
A copy of the invitation is attached here.
Okay Im over it now but I was quite peeved on the weekend after my plans to see Avatar on Saturday were screwed over by the China Film Association. [sidenote: Yes I admit I am a bit of closet sci fi fan, although quite selective in my tastes - I never really enjoyed any of [...]
This is a post that will attempt to tie a few (possibly completely unrelated although I think not) thoughts I have been having over the past few weeks (possibly years). It became apparent to me today that these thoughts, well at least I think, are somewhat interrelated … so here we go.
In the past few [...]
A few months ago I posted about US criticisms of an Australian tv segment on the basis that the segment was racist. At the time I was somewhat critical of the transposing of US cultural norms onto Australians. My point was that whilst in some context something could be racist in other contexts it would [...]
I have been intending to elaborate on my last post for a few days to explain my viewpoint in order to avoid any confusion in relation to such a sensitive topic. A further piece of news has now given currency to the thoughts I wanted to convey. I will come back to that point later.
There are two [...]
In a notice that was published on the State Administration of Taxation (SAT) website last week, the SAT and Ministry of Finance (MOF) have continued to relieve taxes in certain circumstances with respect to universities. Caishui [2009]155 (as you may recall Caishui indicates it is a notice jointly issued by the SAT and MOF) provides [...]