Our collection of resources based on what we have learned on the ground
Resources
Q&A
What is the benefit of routing investments through Singapore?
- March 2016
- Free Access
Companies operating in ASEAN might find that the cost of transferring profits back to their home country has increased in the absence of up to date DTAs. By contrast, with many DTAs in place and 0 percent withholdings tax of its own on dividends, Sin...
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 ...
Q&A
Why would an employee choose restricted stock units (RSUs) over monetary bonuses...
- February 2016
- Members Access
Restricted stock units (RSUs) are convenient forms of compensation that offer an array of benefits to employees seeking long-term employment with a company. This form of company stock is disbursed to an employee based on level of performance an...
Q&A
What is the one difference between Thai Financial Reporting Standards and IFRS?
- February 2016
- Free Access
The industry-specific financial instrument standards are different in IFRS and the Thai Financial Reporting Standards. However, the Thai Federation has announced two additional upcoming updates, namely the adoption of IFRS one year after its effectiv...
Q&A
What is the penalty for foreign companies who are late in submitting their audit...
- February 2016
- Free Access
All foreign companies have to submit their audited financial statements within five months or 150 days of the end of the fiscal year. If one company is overdue the deadline, this failure may result in a penalty of up to THB 100,000 (US$3,000).
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