In a strong indication of its growing commitment to enforcing tax compliance, China's State Administration of Taxation released updated indirect transfer rules to replace Notice 698. professionals say the more stringent tax rules, which include safe harbour regulations, withholding tax obligations of the buyer, and clarifications of reasonable commercial purpose, are both welcome and concerning
After ten years, a regulatory framework has now been put in place for QFII and RQFII income tax. Investors must pay taxes for gains made before November 17 last year and should consult with authorities to verify calculation methods
Cheng (Ron) Ma of Jingtian & Gongcheng highlights the developments in VAT and double taxation treaties,explains withholding tax and predicts the next phase of reforms
The merger process in China can be long and painful. This is primarily due to the lack of detailed implementing rules and un-reconciled discrepancies among governmental authorities