When doing business in a foreign country, local laws, regulations and standards are something that you must get familiar with to. After years of development, the Chinese Accounting Standards (CAS) is ...
Value Added Tax (VAT) in China is notoriously complex. It’s one of the most comprehensive taxes among 170 countries that have implemented VAT (or equivalent tax). The difference between Chinese accoun...
Doing business in a foreign country is never easy, and the same goes for China. China’s accounting standards are very different from the global standards that you are probably familiar with.
The rates of China taxes for both expat employees and businesses are perhaps higher than you'd imagine. For instance, expats can expect to pay between 25% to 45% IIT (Individual Income Tax) on earni...
If you're a foreign investor who's running a Chinese enterprise, probably a WFOE, you will need to undergo an annual inspection each year. Let's examine what the annual inspection is, why it's done, w...
Let's take a look at bookkeeping in China, an important job that foreign investors need to consider when setting up a company here. I'll introduce bookkeeping, explain what a bookkeeper should be doin...
Operating a WFOE, wholly foreign-owned enterprise, or any other business in China, isn’t as simple as only securing a business license; you will also need to open a bank account to facilitate your ope...
Foreign workers in China take note! There are changes to individual income tax (IIT) that have come into being in January 2022, and they're not going to be welcome. TL:DR: you're probably going to hav...
China has extended or started cutting certain taxes and fees to stimulate the economy by providing some financial support for smaller and micro businesses, and also in some preferential sectors (such ...
If you’re an expat who is working in China, or will be soon, the bad news is that you will probably need to pay Individual Income Tax (IIT), but the good news is that you are likely to be entitled to ...
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