China launches online international tax services for non-resident entities
On 10 April 2023, China's State Taxation Administration made an announcement regarding the nationwide launch of an online cross-border tax service for non-resident enterprises. This service allows overseas companies to conveniently pay their taxes
See More
China declares tax incentives for small businesses
On 24 March 2023, during an executive State Council meeting led by Premier Li Qiang, the State Council of China made an important announcement regarding the extension of supportive tax and fee policies. This includes the highly anticipated renewal
See More
China: BEPS MLI in Force
On 1 September 2022, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force for China. With regard to the double taxation agreements between China and other
See MoreBRICS Summit Declaration Notes Progress on Tax and Customs Cooperation
Following the virtual BRICS summit held on 23 June 2022, the Beijing Declaration emphasised the need to cooperate to promote economic recovery. The BRICS group of emerging powers – Brazil, Russia, India, China and South Africa – has
See MoreChina deposits BEPS MLI ratification instrument
On 25 May 2022, China has deposited its instrument of approval for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS Convention). China's instrument of approval also covers Hong
See MoreChina extends tax payment deferral for SME sector
On 28 February 2022, the Ministry of Finance and State Administration of Taxation of China have jointly issued Announcement No. 2 of 2022 extending the tax payment deferral policy for SMEs especially in the manufacturing
See MoreChina revises tax return forms
On 31 December 2021, Chinese State Administration of Taxation (SAT) has issued Announcement No. 34 (2021) for reducing tax burdens in relation to the final settlement of corporate income tax. The announcement includes revision of certain forms for
See MoreChina publishes simplified procedures for unilateral APAs
On 26 July 2021, the State Administration of Taxation (SAT) issued Announcement No. 24 (2021) that finalizes a simplified procedure for unilateral advance pricing arrangements (APAs), which will come into effect on 1 September 2021. An
See MoreChina declares reduced tax rate for small enterprises
On 2 April 2021, the State Administration of Taxation (SAT) of China has published Announcement No. 12 of 2021 regarding income tax rate reduction for small and low-profit businesses and sole traders. The announcement includes that for the
See MoreIMF Blog Looks at Securing a Green Recovery
In an IMF blog post of 15 April 2021 the IMF Director General looks at policies to secure a green recovery. The blog notes that following the period of disruption due to the pandemic a few economies, led by the United States and China, are
See MoreChina declares 200% R&D deduction for manufacturing sectors
On 31 March 2021, the State Administration of Taxation of China has published Announcement No. 13 of 2021, regarding an increased R&D super deduction for manufacturing entities. The announcement include 200% deduction for R&D
See MoreEU: BASIC countries express concern at the proposed Carbon Border Adjustment Mechanism
A Joint Statement issued on 8 April 2021 at the conclusion of the 30th BASIC Ministerial Meeting on Climate Change has expressed concern about the insufficiency and inadequacy of the support provided by developed countries; and is concerned that
See MoreIMF: Securing China’s Post-Pandemic Recovery
On 24 September 2020 a blog post by the IMF’s First Deputy Managing Director Forum on National Affairs looked at reforms needed to ensure China’s recovery from the economic problems caused by the pandemic. Global Economic Outlook The blog
See MoreOECD: Global Forum issues peer review reports on transparency and exchange of information
On 1 September 2020 the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes issued nine new second-round peer review reports containing details of their review and assessment of the compliance by nine jurisdictions
See MoreChina reduces income tax rate for Hainan free trade port
The Chinese authorities have rolled out preferential income tax plans for companies and individuals in the southern island province of Hainan. According to a circular jointly issued by the Ministry of Finance and the State Taxation
See MoreChina extends monthly tax returns filing deadline amid COVID-19 pandemic
On 27 April 2020, the State Taxation Administration (STA) has announced the extension of deadline for filing monthly tax returns and tax payment for May 2020 from 15 May 2020 to 22 May 2020, due to the COVID-19
See MoreChina: Tax measures in response to COVID-19 pandemic
Since the outbreak of COVID-19, the State Taxation Administration of China (STA) has implemented the decisions to adopt a series of measures in response to the epidemic and boost economic and social development. Following key measures are initiated
See MoreHong Kong and Mainland China sign an agreement for the exchange of CbC reports
On 4 March 2020, the Inland Revenue Department (IRD) of Hong Kong announced that Mainland China and Hong Kong have entered into a bilateral arrangement for the automatic exchange of country-by-country (CbC) reports. Under this, Hong Kong entities
See More