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SAT Monitors Issuance of VAT Invoices

SAT Monitors Issuance of VAT Invoices

Effective July 1st, it will NOT be possible anymore to register accounting VAT invoices without a taxpayer identification number. 

Jul 05,2017
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0
40741

Effective July 1st, it will NOT be possible anymore to register accounting VAT invoices without a taxpayer identification number. 

Non-Residents of China Require New Due Diligence

Non-Residents of China Require New Due Diligence

According to the Measures, a non-resident or a passive non-financial entity controlled by a non-resident, when opening a financial account, must provide a detailed announcement of the name, current home address, country (region) where it's a tax resident, taxpayer identification number, place and date of birth etc., in order to prove the tax resident's identity (or the identity of the account owner or account controller). 

Jul 05,2017
0
0
40685

According to the Measures, a non-resident or a passive non-financial entity controlled by a non-resident, when opening a financial account, must provide a detailed announcement of the name, current home address, country (region) where it's a tax resident, taxpayer identification number, place and date of birth etc., in order to prove the tax resident's identity (or the identity of the account owner or account controller). 

State Administration of Foreign Exchange Requires Banks Report Overseas Transactions over CNY 1,000

State Administration of Foreign Exchange Requires Banks Report Overseas Transactions over CNY 1,000

The Circular states that, starting from September 1st, 2017, Chinese financial institutions which issue bank cards must collect and report information to the State Administration of Foreign Exchange (SAFE) on the use of their bank cards for all oversaeas transactions greater than CNY 1,000. This also includes cash withdrawals. 

The Circular states that,...

EU- China Summit: 200 Geographical Indications to be Protected

EU- China Summit: 200 Geographical Indications to be Protected

During the 19th EU - China Summit, the Directorate General for Agriculture and Rural Development of the European Commission and the Ministry of Commerce of the People's Republic of China met to finish discussing the protection of geographical indications. 

During the 19th EU - China...

New Tax Policies for Venture Capitalists and Angel Investors

New Tax Policies for Venture Capitalists and Angel Investors

Good for taxpayers, the announcement states that a corporate partner who invests in at least two qualified partnership venture captial enterprises is allowed to calculate, in aggregate, the deductible investment amount and the income it has gained. 

Good for taxpayers, the...

SAT Monitors Issuance of VAT Invoices

SAT Monitors Issuance of VAT Invoices

Effective July 1st, it will NOT be possible anymore to register accounting VAT invoices without a taxpayer identification number. 

Effective July 1st, it will...

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