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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Triple Eight Limited Promotional Plan24 January 2020
Global Mobility Issues from a Corporate & Income Tax Perspective7 January 2020
Introduction Global mobility has allowed more and more companies to request their personnel to carry out work duties outside the companies’ home tax jurisdiction. In the past, most working arrangements abroad were rather permanent, nowadays jobs are also performed on an assignment/secondment basis or on a commuter basis or even as a combination of these… read more
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