China aiming to speed up progress of FTA talks with Australia
Comments by the Chinese Premier Li Keqiang on the negotiations for a free trade agreement (FTA) with Australia have been welcomed by the Australian Trade and . Investment Minister. On March 5 2014, in his speech to the annual meeting of the National
See MoreChina becomes largest trader of goods in the world
From the preliminary statistics produced by the Secretariat of the World Trade Organization, it appears that China became the biggest trader of goods in the world for the first time last year, overtaking the US. The total volume of China’s trade
See MoreCanada expand Commercial Ties with China
The Canadian Minister of State (Foreign Affairs and Consular) has recently concluded a four-day visit to Hong Kong, Guangzhou and Beijing, China, where she met with government and business leaders. The visit aimed to help position Canada as a
See MoreRussia and China draft a new DTA
On February 5, 2014, Russia completed the drafting of a new double taxation agreement (DTA) with China to replace their 1994 treaty. The new treaty when finalized is likely to update the provisions to take into account changes in the tax
See MoreDTA between China and France
An income tax treaty, and Protocol, between China and France was signed in late November 2013. The treaty and related Protocol-once ratified and in force-would replace the existing treaty and Protocol originally signed in 1984. If the ratification
See MoreFrance – DTA with China
An income tax treaty, and Protocol, between France and China was signed in late November 2013. The treaty and related Protocol—once ratified and in force—would replace the existing treaty and Protocol (1984). If the ratification processes are
See MoreUpdate of DTA between Belgium and China
On 27 January 2014, Belgium’s finance ministry announced changes to the effective dates of the Double Tax Agreement (DTA) with China. The finance ministry had previously announced that the agreement would come into effect on Jan. 4, 2014 and
See MoreRussia’s draft DTAs with Belgium and China
On 5 February 2014, Russia's draft Double Tax Avoidance Agreements with China and Belgium were tabled before Russia's Cabinet for its
See MoreChina and Liechtenstein sign a TIEA
China and Liechtenstein signed a Tax Information Exchange Agreement (TIEA) 27 January 2014. The agreement is consistent with the OECD’s international standard. The TIEA will enter into force after ratification by both parties, and the possible
See MoreChina: Tax Revenues grew in 2013
Total tax revenue in China increased by 9.8% in 2013; VAT revenue rose by 9% to nearly RMB2.9 trillion, while corporate income tax revenue grew by 14% to RMB2.2 trillion. Total tax revenue was just over USD1.8 trillion; however rate pf increase
See MoreEcuador ratifies DTA Protocol signed with China
Ecuador ratified the Protocol to the DTA with China through Decree no. 208 on 13 January
See MoreRevised China-United Kingdom DTA enters into force
An income tax treaty between China and the United Kingdom entered into force on 13 December 2013, and is effective from 2014. The new treaty replaces the 1984 treaty between the two countries and provides for lower rates of dividend and royalties
See MoreChina: Shanghai Free Trade Zone implemented
The China (Shanghai) Pilot Free Trade Zone (SFTZ) is an important milestone in economic policy and may lead to broader financial and economic reforms. The SFTZ is geared towards services industries and promotes not only trading but also investment.
See MoreChina: VAT refunds on e-commerce
Clarification has been issued of Chinese VAT refund processes for Chinese online retailers selling outside China. This guidance covers enterprises selling via their own website or through external platforms such as Amazon. The new guidance came
See MoreIndividual tax relief measures in China
The Ministry of Finance, the Ministry of Human Resources and Social Security, and the State Administration of Taxation have jointly issued a circular regarding guidance on the collection and administration of individual income tax on enterprise
See MoreChina: VAT pilot program expanded to new industry sectors
China’s Ministry of Finance and the State Administration of Taxation jointly issued guidance to expand the value added tax (VAT) pilot program to apply to the railway sector, the postal delivery services sector, and the telecommunications sector.
See MoreChina: Financial policies for Shanghai pilot free trade zone
The People’s Bank of China on 2 December issued opinions regarding financial support for the development of China (Shanghai) pilot free trade zone. The guidance has five areas of focus: Expansion of cross-border use of RMB; Acceleration of
See MoreSwitzerland: Proposals on Multiple Tax Agreements has been Adopted
A number of double tax treaties proposal on tax information exchange has been adopted by the Swiss Federal Council. The Double tax agreements are with Australia, Hungary, and China, currently valid agreements, and containing administrative
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