Our collection of resources based on what we have learned on the ground
Resources
Q&A
What are deductible allowances for foreign staff in China?
- February 2016
- Members Access
Under the provisions of Chinese tax law, certain allowances are deductible before calculating the tax burden on foreign employees’ monthly salaries. These categories must be specified in the labor contract, and employees must be able...
Q&A
What are some of the advantages of outsourcing payroll in China?
- February 2016
- Members Access
Payroll processing can be a challenging task in China considering its complex social benefits system. By outsourcing payroll, companies can increase the efficiency and accuracy of the process. Companies that specialize in payroll usually have t...
Q&A
How can a company dismiss an employee during the probation period?
- February 2016
- Members Access
While both parties can dissolve the labor contract unilaterally by giving three days’ notice to employees on probation, the company can only dismiss them if there is clear evidence that they do not satisfy the job requirements. The company has to ...
Q&A
What are some of the recent changes in China’s visa system?
- February 2016
- Members Access
The Chinese government amended its visa regulations in September, 2013. The F-Visa, which was previously given to foreign business travelers, was transformed into a visa solely for non-commercial purposes, such as cultural exchanges and visits....
Q&A
What is the history of China's tax policy?
- February 2016
- Members Access
In 1950, The Implementation Standards of National Tax Policies was first put into effect by the State Council (known at the time as The Government Administration Council) to lay a legal framework for nationwide taxation in China. In 1978, Deng ...
Q&A
What organization is the highest tax authority in China?
- February 2016
- Free Access
China’s highest tax authority is The State Administration of Taxation (SAT), who sits directly below the State Council. Given its position, the SAT handles a multitude of tasks. It oversees the country’s tax system, drafts nat...
Q&A
What methods do China’s State Administration of Taxation and Ministry of Finan...
- February 2016
- Members Access
China’s consumption tax can be applied to a wide range of products ranging from high energy products like cars, to those deemed luxury items and nonessentials. As a result, consumption tax rates vary considerably. Once the tax rate ...
Q&A
What is a fapiao?
- February 2016
- Members Access
A fapiao is the Chinese name for value-added tax (VAT) invoices that are administered by the tax authorities to monitor the tax paid on transactions. Businesses are required to purchase fapiaos based on the sales revenue they believe that they ...
Q&A
What is a parcel tax?
- February 2016
- Members Access
A parcel tax is a tax levied on products sold by foreign exporters to Chinese consumers that amount to, or exceed RMB 50. The tax also applies to imported goods bought online on cross border e-commerce platforms. The parcel tax rate split...
Q&A
What is the significance of China’s resource tax reform that was produced by t...
- February 2016
- Members Access
The resource tax reform aims to promote the conservation of China’s domestically produced natural resources such as coal and natural gas. The government-issued reform dictates that the tax rates on these resources will be based on local s...
Q&A
What factors must an overseas parent company consider when translating the finan...
- February 2016
- Members Access
Translating financial reports between an international parent company and a Chinese subsidiary can often be a fairly complex task. Each company is required to follow specific accounting standards based on the country that they reside in. ...
Q&A
What is the significance of the Foreign Account Tax Compliance Act (FATCA) for A...
- February 2016
- Members Access
The Foreign Account Tax Compliance Act (FATCA) is specifically designed to counter tax evasion. In cooperation with the Chinese government, financial institutions based in China are required by law to present the US government with information ...
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