According to BSTB Bulletin [2013] No.22, following cross-border services are exempt from VAT: Geotechnical investigations, surveying and exploration services for projects and mineral resources located outside China. 2. Services for Conference and exhibition (including relevant conference/exhibition management services) located outside China. 3. Services for warehousing located outside China. 4. Leasing of tangible and moveable goods […]

Effective from 1 August 2013, VAT reform is expanded to nationwide in P.R. China after trial implementation in Shanghai City and other 8 provinces or cities in 2012. Furthermore, there are three new updates: 1) radio, film and TV production, distribution and broadcasting are included in the taxable services, which apply to 6% VAT rate; […]

Research and Development (“R&D”) costs items can be deducted before tax with further 50% amount according to the prevailing PRC tax law. These items are clarified on 29 September 2013 and became retrospectively effective since 1 January 2013. These costs comprise: 1) The statutory basic pension insurance, basic medical insurance, unemployment insurance, work-related injury insurance, […]

During the course of our working with clients as professional accountants, we noted that some new companies mostly focus on sales and marketing instead of hiring professional accountants at the beginning stage of business, resulting in a number of problems. Here are some examples. 1. Foreign exchange issues. At the early stage of many Foreign […]

Invitation to 5th Expat Services Expo and International Culture Carnival Dear Sir/Madam, We are pleased to invite you to the must visit, well loved and exciting 5th Expat Services Expo and International Culture Carnival which is again taking place from 12 noon on Friday 13th until 6pm on Sunday 15th September. We will be there waiting […]

1.【China Hot Topic】If one’s vehicle and vessel tax is withheld by  insurance company somewhere else other than the place  where the vehicle or vessel is registered, is it still necessary to pay vehicle and vessel tax to the local tax authority where the vehicle or vessel is registered? 【Lee & Lee Associates Insights】According to the […]