Tax

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

Enterprises in the environmental sector are eligible for 15% tax rate.

Tax-resident enterprises that hold 10% of shares of a foreign enterprise are required to report the relevant information to the tax authority.

Stamp duty on preference share transactions set at 0.1%

SAT revises the expense deduction amount for individual income tax of partnerships and proprietorships.

Telecom companies included in the VAT reform.

As one of the first taxpayer groups affected by the reforms replacing business tax with value added tax, law firms must adjust their engagement contracts, billing systems and compliance obligations

Administration of the determination of tax exempt qualifications of non-profit organisations strengthened.