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1.

Do Individual Tax Payers In China Have To Secure A Unified Social Credit Code?

3 April 2019

Only mainland-incorporated domestic / overseas owned businesses are required to have a Unified Social Credit Code. In the case of individual taxpayers, a Taxpayer Identification Number (TIN) will suff...Read More

2.

How Can China-Registered Enterprises / Individually-Owned Businesses Obtain a Unified Social Credit Code?

27 Feb 2019

All duly-registered domestic / overseas-invested enterprises, as well as individually-owned businesses, will automatically be issued with a Business Licence, complete with a unique Unified Social Cred...Read More

3.

How Should Individuals Engaged in Business on the Mainland Calculate their Personal Income Tax Liability?

30 Jan 2019

According to the Individual Income Tax Law of the People’s Republic of China (which came into force on 1 January this year), all income earned by mainland-resident individuals from business operations...Read More

4.

What are the Implications of the Recent Revisions to China’s Individual Income Tax Regulations?

10 Jan 2019

Under the terms of the amended Individual Income Tax Law, which has come into effect since 1 January 2019, “Consolidated Income” will be deemed to be (1) any income paid as a wage/salary, plus (2) any...Read More

5.

Are there any preferential enterprise income tax policies currently on offer to small businesses?

18 Oct 2018

For the period 1 January 2018-31 December 2020, low-profit small enterprises with an annual taxable income of RMB1 million or below can have their taxable income assessed on the basis of 50% of their ...Read More

6.

Are small and micro businesses entitled to preferential VAT treatment?

26 Sept 2018

In order to support the development of small and micro businesses, the Ministry of Finance and State Administration of Taxation issued a joint circular announcing that, for the period 1 January 2018 t...Read More

7.

Are mainland-registered small businesses entitled to pay VAT at a reduced rate?

12 Sept 2018

According to the current regulatory requirements, any business with an annual taxable turnover of RMB5 million (US$733,000) or below may apply to their local supervisory tax department for registratio...Read More

8.

Is it necessary for an overseas investor to complete a pre-establishment filing procedure prior to launching a mainland-based business?

29 Aug 2018

Except in those sectors featured on the Central Government’s current Foreign Investment Negative List (such as the construction/management of nuclear facilities or the operation of logistics/courier s...Read More

9.

Enquiry: When setting up a mainland-based business, how should a Hong Kong-based company (or individual) obtain the “registration number”?

15 Aug 2018

When setting up a mainland business, an application for registration should be made to the relevant market regulation department....Read More

10.

Enquiry: What Have Been the Most Recent Changes to China’s VAT Regime?

25 July 2018

A: As of 1 May this year, the 17% and 11% VAT rates previously applicable to the supply of certain goods and services were reduced to 16% and 10% respectively....Read More

11.

Enquiry: Do Newly-Established Enterprises and Individually-Owned Businesses Have to Register Separately for Tax Purposes?

18 July 2018

Following the Chinese government’s introduction of the All-in-One Licence (Complete with Unified Code) as part of its recent commercial reforms, the market regulation administration department (previo...Read More

12.

Enquiry: Following the Implementation of the State Council’s Recent Institutional Reforms, which Government Department is Now Responsible for Registering New Businesses?

11 July 2018

In line with the formal adoption of the State Council’s institutional reform plan in March this year, the responsibilities and remit of several government bodies have been somewhat overhauled....Read More

13.

Enquiry: How Should a Mainland-Based Business or Individual Process Foreign Exchange Payments and Receipts Related to Trade in Services?

27 June 2018

According to the Guidelines for the Foreign Exchange Administration of Trade in Services and the ancillary Detailed Rules for Implementation, mainland-based businesses and individuals are legally-obli...Read More

14.

Enquiry: Which Foreign Exchange Regulations does a Business Need to Comply with when Initiating Foreign Exchange Receipts and Payments Related to Trade in Goods Via a Bank?

13 June 2018

In line with the Guidelines for the Foreign Exchange Administration of Trade in Goods, any such business must first secure a listing in the Directory of Enterprises with Foreign Exchange Payments and ...Read More

15.

Enquiry: What is the difference between the business licence as previously issued by the Industry and Commerce Administration Department and the new all-in-one licence with a unified code?

23 May 2018

When establishing a company or an individually-owned business on the mainland, it is first necessary to register with the government....Read More

16.

Enquiry: How should a non-mainland resident apply to establish an individually-owned business in China?

16 May 2018

Under the terms of the Closer Economic Partnership Arrangement (CEPA), permanent residents of Hong Kong or Macau may establish individually-owned businesses on the mainland without having to seek prio...Read More

17.

Enquiry: How Much Does It Cost to Register an Enterprise or an Individually-Owned Business in China?

25 April 2018

On 1 January 2015, the Ministry of Finance and the National Development and Reform Commission jointly suspended the registration fees applicable to the incorporation of commercial enterprises or indiv...Read More

18.

Enquiry: What is the current minimum registered capital requirement in the case of foreign-invested enterprises (FIEs)?

18 April 2018

In 2013, the State Council scrapped the registered capital registration system in the case of both domestic and overseas businesses....Read More

19.

Enquiry: What are the required procedures for naming a new China-based business?

4 April 2018

Prior to establishing a business on the Chinese mainland, investors must first choose an appropriate company name. As an initial step, they should log on to the State Administration for Industry and C...Read More

20.

Enquiry: What are the tax obligations relating to the profits and other income streams accruing to the overseas partner of a foreign-invested enterprise operating in China?

28 March 2018

Under normal circumstances, when a foreign investor remits any dividends and/or interest out of China, a 10% withholding income tax is levied....Read More

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