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China Releases Announcement on VAT Determination for Direct Selling Enterprises
To clarify issues regarding the determination of value-added tax (VAT) in direct selling, China’s State Administration of Taxation released the “Announcement on Issues Concerning the Determination of Value-Added Tax for Direct Selling Enterprises (Announcement [2013] No. 5, hereinafter referred to as ‘Announcement’)” on January 17, 2013. Detailed information can be found below.
Qianhai Introduces Incentives to Attract High-End Foreign Talent
The Shenzhen Qianhai Administration Bureau released the “Interim Measures on Individual Income Tax Subsidies for Overseas High-End Talent” on December 24, 2012, which provides that high caliber foreign professionals working in major industries in Qianhai will receive subsidies from the Shenzhen government.
Hong Kong’s New Companies Ordinance Expected to Take Effect in 2014
Jan. 29 – With the aim to modernize Hong Kong’s Company Law and further enhance the region’s status as a major international business and financial center, a comprehensive rewrite to the existing Companies Ordinance was initiated in mid-2006. This long and arduous process began to bear fruit on July 12, 2012 as the Companies Bill was eventually passed by the Hong Kong Legislative Council.
Shenzhen Adjusts Social Insurance Policy
Jan. 23 – Shenzhen’s Social Insurance Bureau recently released a circular concerning social insurance payments in the city, which came into effect from January 1, 2013. The circular provides new policies regarding the payment of pension insurance and unemployment insurance in Shenzhen, and cancels over-age pension insurance contributions for individuals with Shenzhen hukou.
Foreign Visitors Can Enjoy 72 Hour Visa-Free Stay in Beijing and Shanghai
Jan. 16 – From January 1, 2013, foreign visitors in China from 45 countries can enjoy a 72 hour visa-free stay in Beijing and Shanghai.
China Releases Interpretations on Foreign-Related Civil Relations
Jan. 15 – The Supreme People’s Court of China released the “Interpretations on Several Issues Concerning the ‘Law of the People’s Republic of China on the Application of Laws to Foreign-Related Civil Relations’ (I) (fashi [2012] No. 24)” on December 28, 2012, which came into effect on January 7, 2013. Detailed information can be found below.
Dezan Shira & Associates Relocates Senior Personnel to South China
From November 2012, Fabian Knopf has been based in the Shenzhen office of Dezan Shira & Associates. He will be operating primarily from the firm’s offices in Shenzhen, Guangzhou, Hong Kong and Zhongshan. Fabian joined Dezan Shira & Associates’ Beijing office in 2010, moving to the firm’s Shanghai office in the latter part of that […]
Notification of New Address for Dezan Shira & Associates’ Shenzhen Office
To accommodate the growing size of our practice, we are pleased to announce the relocation of Dezan Shira & Associates’ Shenzhen office to larger premises at: Room 2503-2504, 25F, Modern International Building, 3038 Jintian Road, Futian District CBD, Shenzhen, PRC 深圳市福田区金田路3038号现代国际大厦2503-2504 If you have any inquiries or questions regarding our change of address, please contact […]
Shenzhen Adopts New Population and Family Planning Regulation
The Standing Committee of the Fifth People’s Congress of Shenzhen Municipality passed the “Shenzhen Special Economic Zone Population and Family Planning Regulations (hereinafter referred to as ‘Regulation’)” on October 30, 2012, which came into effect on January 1, 2013. The Regulation is the first local law in China that clarifies the issue of violating the State one-child policy by giving birth outside of Mainland China.
China Clarifies Status of VAT Amounts Carried Over During Asset Reorganization
China’s State Administration of Taxation released the “Announcement on the Treatment of Remaining Value-Added Tax (VAT) Amounts Carried Over During Asset Reorganization by Taxpayers (Announcement [2012] No. 55, hereinafter referred to as ‘Announcement’)” on December 13, 2012, which addresses issues concerning the treatment of remaining VAT amounts carried over during the asset reorganization process. Key information can be found below.
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