Nationwide Implementation of VAT Reform on Transportation and Selected Modern Service Sectors
China’s Ministry of Finance and State Administration of Taxation issued a circular on May 28 announcing that a VAT reform pilot programme for transportation and selected modern service sectors will be implemented nationwide starting from August 1, 2013. LS Goh, Partner, PRC Tax & Business Advisory Services from PricewaterhouseCoopers Hong Kong, shared her expertise on how businesses need to prepare for the changes.
2013/07/09
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Latest Developments and Practices on Circular 698 In Relation to Indirect Equity Transfer and Its Challenges to Foreign Investors
At a seminar organized by the Hong Kong Inland Revenue Department last year, senior tax officials from the Mainland State Administration of Taxation (SAT) spoke about important developments relating to China's current and future tax policies. Amongst the topics discussed were SAT's clarification on Guoshuihan[2009] No.698 (Circular 698), regarding the assessment of indirect transfers of equity of a Chinese company based on China's anti-avoidance rules. At this roundtable luncheon, Jeremy Ngai, Partner, China Tax and Business Advisory Services Division of PricewaterhouseCoopers, talkedabout the latest developments and practices relating to Circular 698 and potential PRC tax implications on indirect transfer of equity.
2013/03/06
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Roundtable Luncheon: Performance of Retailers in China with Case Studies
The Mainland economy and consumer spending are growing strongly, reflecting rising wealth and incomes. Sales performance of the Chinese retailers rebound quickly since the second half of 2009 and retailers operating in the inner cities were less affected by the global financial crisis, according to a recent study conducted by PricewaterhouseCoopers and the China Chain Store and Franchise Association. At this roundtable luncheon, industry experts share their expertise on the status of the market and how Hong Kong retailers can benefit from the Mainland’s growing consumerism. Speakers:
Carrie Yu, China and Asia Pacific Retail & Consumer Leader, PricewaterhouseCoopers
Michael Cheng, Partner, Hong Kong Retail and Consumer Leader, PricewaterhouseCoopers
Commentator:
David Ho, CEO, Mastermind Strategy Advisors Ltd
2010/09/21
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Update on China's Corporate Income Tax Administrative Measures for Corporate Restructuring
In April 2009, the State Administration of Taxation and the Ministry of Finance jointly issued a circular Caishui [2009] No.59 setting out the framework and rules for Corporate Income Tax treatments in relation to corporate restructuring. However, there were quite a number of unclear issues, both technical and procedural. Consequently, the "The Administrative Measures of Corporate Income Tax Treatments for Corporate Restructuring" (Guo Jia Shui Wu Zong Ju Gong Gao [2010] No. 4, "Public Notice 4") was recently issued. dated 26 July 2010. Jeremy Ngai, China Tax Partner of PricewaterhouseCoopers, explained at the Chamber’s September 15 roundtable luncheon the clarification.
2010/09/15
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Understanding China's New Corporate Income Tax Law
China's new Corporate Income Tax Law came into effect on January 1, 2008, and marked the end of preferential policies enjoyed by foreign investors and the unification of taxation with domestic corporations. The detailed rules of the new law to be promulgated also lay out new measures of enforcement, in terms of the classification of tax rates, deduction of pretax expenditure, and criteria for preferential rates, etc. Petrina Tam, Partner, China Tax Services, PricewaterhouseCoopers, discussed the new changes at the Chamber's roundtable luncheon on January 7.
2008/01/07
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