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Home > Resources > News > China Tax News
China to Trial Telecoms Value-added Tax: Could Hit Carriers’ Profits2014-03-10
China will trial a new value-added tax for telecommunication services providers as a replacement for business tax, Premier Li Keqiang said on Wednesday at the opening of the annual meeting of parliament, a change which could hit the companies' profits.The trial is part of a set of reforms aimed at s…
China Planning Fairer Income Tax Policies: Finance Minister2014-03-10
Beijing is mulling over how to make individual income tax policies fairer in order to ensure equitable income distribution, China's Finance Minister Lou Jiwei said on Thursday.Premier Li Keqiang has pledged to "declare war on poverty", make taxes more progressive and improve people's livelihoods, am…
Shanghai to Improve Tax Policies for FTZ2014-02-24
  BEIJING, Feb. 13 (Xinhuanet) -- Shanghai’s fiscal and tax authorities are to study tax policies for overseas investment and offshore businesses to bring a boost to the city’s free trade zone, officials said yesterday.Song Yijia, head of the Shanghai Finance Bureau, said the bureau’s prime t…
The SEC Shouldn’t Forget that Beijing Always Wins 2014-02-24
  Chinese securities regulators are showing just how averse to embarrassment and defeat they really are. Their intention to keep foreign eyes off the accounting documents of the country's firms that are listed in the US, particularly the state-owned ones, has taken Chinese companies and US in…
Belgium Announces Revised Effective Dates of New DTA with China2014-02-17
  Belgium’s finance ministry on January 27 announced changes to the effective dates of the agreement for the avoidance of double taxation and prevention of fiscal evasion with China. The finance ministry had previously announced that the agreement would come into effect on Jan. 4, 2014 …
China is failing to collect billions in taxes from some of its wealthiest citizens, hampering efforts to tackle a widening gap between rich and poor. 2014-02-17
Beijing's tax collectors have been vexed by wealthy residents who are able to launder money and move it abroad through casinos, fine art buys and fake trade invoices -- practices that result in lost tax revenue. Closing the gap between the urban rich and the hundreds of millions of poor citizens i…
Tax Preferences Provided to College Dormitory and Canteen2014-02-17
  A circular was recently promulgated by the Ministry of Finance and the State Administration of Taxation (SAT) that upon the approval of the State Council, the operators of student dormitory and canteen in colleges will enjoy preferential tax policies during the period from January 1, 2013 t…
The MOF and SAT Plan to Implement the Reform of Business Tax Transformation into VAT on a Larger Scale2013-08-13
Issuance Date: May 3, 2013 Source: People’s Daily Recently the Ministry of Finance and the State Administration of Taxation held a video conference on the pilot reform of business tax transformation into value-added tax. The conference required the fiscal and tax authorities to earnestly impleme…
Ministry of Finance and State Administration of Taxation Release Revised Tax Policy Concerning VAT Pilot Program2013-08-13
Issuance Date: May 29, 2013 Source: Xinhuanet Our reporters learned on May 28, 2013 the Ministry of Finance and State Administration of Taxation (SAT) jointly issued on May 27, 2013 a notice that further clarifies the tax policy concerning China’s Value Added Tax (VAT) pilot program which is to …
China Taxation News: The SAT Implements Special Inspection on Vehicle Purchase Tax2013-08-13
Issuance Date: June 28, 2013 Source:ChinaTaxation News The State Administration of Taxation (SAT) has recently issued Notice on Special Inspection on Vehicle Purchase Tax to carry out special inspection on the implementation of vehicle purchase tax policy, management of tax vouchers and Duty-pai…
Taxation Organs Strictly Inspected Cases of Illegal Invoice Usage2013-08-13
According to statistics issued by the State Administration of Taxation (SAT),during the January-April period this year, 8504 cases of forging and selling fake invoices and illegally issued invoices were investigated around the country, 7942 illegal companies were punished, 6.649 million various ille…
More buyers seal home deals ahead of likely property tax2011-01-26
MORE people in Shanghai are rushing to buy a home or concluding a purchase deal, particularly for high-end spacious houses, ahead of an impending property tax, according to a latest research conducted by a local estate chain.The transaction volume of existing homes, with a floor area exceeding 140 s…
Resource tax to be expanded nationwide2011-01-26
By Wang Xiaotian (China Daily)Updated: 2011-01-26 09:42   BEIJING - China's Finance Minister Xie Xuren said the country will extend the resource tax - currently only in force in the Xinjiang Uygur autonomous region - to other areas in the coming five years while stepping up a revision of the …
China 'unlikely' to reduce export rebates2011-01-25
Official from MOFCOM said cuts won't be considered in 1st half of 2011   BEIJING - China expects to maintain the stability of its export-related policy, and it is "highly unlikely" that the country will reduce export rebates for highly polluting and energy-intensive industries "during the fir…
China levies anti-dumping tariff on scanners2011-01-24
China has levied an anti-dumping tariff on X-ray security scanners made by European companies, Bloomberg reported, citing an announcement on the website of the Ministry of Commerce.   China will impose a tax ranging from 33.5 percent to 71.8 percent on such imports for the next five years, ef…
Tax speculation drives housing sales2011-01-18
SHANGHAI - With media reports rife about a property tax soon to be launched in Shanghai, 30-year-old Zhou Xin had no hesitation in signing the purchasing contract for a two-bedroom apartment located in the Zhabei district of the city.   Zhou had been looking for such an apartment for sever…
Tax Deduction & Exemption Available For Post-Disaster Reconstruction Of Zhouqu 2011-01-18
The MOF, the GAC and the SAT have recently published the Notice on Issues concerning the Tax Policies for Supporting the Post-disaster Reconstruction of Zhouqu. The Notice clarifies the tax preferential policies in five aspects: tax policies to reduce enterprises’ and individuals’ tax burden; tax po…
SAT Clarifies Income Tax Rules On Technology Transfer By Resident Enterprises 2011-01-18
The Ministry of Finance (MOF) and the State Administration of Taxation (SAT) has promulgated the Circular on Issues of Business Income Tax Policies Relating to the Transfer of Technologies by Resident Enterprises. The circular indicates that the scope of transfer of technologies, include transfer of…
Overheated housing market 'not a bubble'2011-01-13
By Zhang Shidong (China Daily) SHANGHAI - China's property market isn't a bubble because household incomes are rising in line with housing prices, according to Andy Rothman, CLSA Asia-Pacific Markets' China macro strategist.   Housing prices in so-called second-tier cities, where most urban …
Shanghai gets OK for property tax2011-01-13
By Wang Ying (China Daily) SHANGHAI - The central government has given the city's proposal to launch a property tax the green light, and the tax is likely to begin in the first quarter of this year, sources said.   But many details still need to be worked out, according to a source close to…
Chongqing to launch 'high-end' property tax2011-01-13
By Wang Huazhong (China Daily) CHONGQING - After a series of measures to curb the rising house prices across the country, the property tax is finally set to arrive in Southwest China's Chongqing municipality, which plans to start collecting the tax as early as the first quarter of the year.  …
EU to cut punitive China fiberglass tariff2011-01-13
BRUSSELS - The European Commission plans a significant cut in the punitive tariffs it imposed last year on Chinese-made fiberglass used in the clean technology sector, EU diplomats and people close to the issue told Reuters on Friday.   The Commission, the European Union's executive, plans t…
China's 2010 tax revenue up 22%2011-01-13
(Xinhua) BEIJING - China's tax revenues rose 22.6 percent to 7.74 trillion yuan ($1.17 trillion) in 2010 compared to one year earlier, the State Administration of Taxation announced on Sunday.   This total included 732.8 billion yuan of tax refunds, but excluded tariffs, tonnage taxes, farml…
Property tax aims to squeeze real estate bubble2011-01-13
By Li Woke (China Daily) BEIJING - China may impose a property tax soon, to try and curb soaring property prices, China Business News reported on Tuesday.   The newspaper cited an unidentified source who provided detailed information of the property tax.   "The tax will be from 0.8 …
Hainan kicks off tax refund program for overseas visitors2011-01-13
(Xinhua) HAIKOU - Overseas visitors can now claim tax refunds on purchases in south China's island province of Hainan as the rebate plan went into effect on Jan 1.Deputy governor of Hainan Tan Li announced the inauguration of the tax refund scheme on the morning of Jan 1 at Shengsheng Departme…

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