Mainland China Tax
Mainland China adopts a sophisticated tax system, which is now composed of 18 kinds of taxes, including turnover taxes, income taxes, property & behaviour taxes, resources taxes and special purpose taxes. Different tax rates, preferential tax treatments or double taxation reliefs may be applied when certain conditions are met. In general, there is a basic law giving the broad principles of the tax. Detailed implementing regulations and specific rules have been issued by the State Administration of Taxation or other government authorities, which are subject to subsequent updates/revisions from time to time.
We provide professional assistance to individual and corporate clients to review their tax position, manage tax risks and handle tax compliance, especially for those who are engaged by a Chinese company or who are on secondment to Mainland China, or carry out business in multiple countries/tax jurisdictions. For example, we help to review and to provide comments on legal contracts from a Chinese tax point of view, identify tax residency and ascertain tax exposure for clients, restructure group organisations to achieve tax efficiency, and handle tax investigations from Chinese tax authorities.
Our sister company Triple Eight Limited can assist with business consultancy and setting up of Wholly Foreign Owned Enterprises (WOFE) and performing company/limited registration in China.
- Setting up of wholly foreign owned enterprises (WOFE), joint venture (JV) and representative offices (performing company/limited registration in China) in Mainland China.
- Advising on the structure and types of company in Mainland China
- Providing consultation on doing business in Mainland China
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Enjoyment of Tax Benefits Granted Under Mainland China Double Tax Treaties28 August 2019
Introduction Mainland China has entered into double tax treaties/arrangements (“DTAs”) with more than 100 tax jurisdictions including Hong Kong, the Netherlands and several European countries. Apart from preventing potential double taxation by both Mainland China and its tax treaty partners, Mainland China DTAs in general offer favourable withholding tax rates on dividends, interests and royalties… read more
Hong Kong Government’s New Multi-Billion Dollar Relief Measures26 August 2019
On 15 August 2019, the Financial Secretary of Hong Kong announced a number of relief measures (worth of approximately HKD 19.1 billion) to support businesses, safeguard jobs and relieve people’s financial burdens. The relief measures relevant for enterprises as well as middle-class and upper-class individuals include the following: (i) Tax reduction In addition to the… read more
How Healthy Is Your Company?15 July 2019
Introduction For the benefits of our own health, many of us conduct on a regular basis a body check, which potentially enables us to ‘spot’ at an early stage any illnesses we might need to face soon or later. Nowadays, such ‘health-check’ is equally important for most businesses and/or companies in the world as they… read more
Certificate of Resident Status – Is Your Company Able To Obtain It?23 May 2019
Introduction In order to be entitled to certain tax benefits granted under double taxation agreements (“DTAs”) such as reduction of withholding tax rates on dividend income, interest income and royalty income, it is generally required for recipients of the said income to prove that, amongst others, they are the beneficial owners of the income concerned… read more