Tax Arrangement for Residents of Hong Kong and Macao on Their Mainland Income Since June 1 2012, residents of Hong Kong and Macao only levy individual income tax in mainland for their income obtained from mainland. Lee & Lee Associates Comments: The above notice is a detail measure made by the State Tax Administration in implementing […]

During the period from 1 January 2012 to 31 December 2015, small and low-profit enterprises, recognized according to Corporate Income Tax law of PRC and other relevant tax regulations can pay corporate income tax at 20% of 50% of actual taxable income. Lee & Lee Associates Comments: The preferential income tax policy for small and low-profit […]

Since 1 July 2011, firstly in Being and then in Tianjin, labor union fee has been collected through tax filing network of local tax authority. Lee & Lee Associates Comments: Due to that the requirement in different places varies, taxpayers shall pay attention to the notice from local tax authority or labor union administration to avoid […]

Since 1 January 2012, using energy-saving vehicle or vessel can enjoy half reduction of vehicle and vessel tax by half and using new energy vehicle and vessel can be exempted from the vehicle and vessel tax. Lee & Lee Associates Comments:  Vehicle and vessel tax is managed by index, which is announced by government authority irregularly. […]

During the period from 1 January 2011 to 31 December 2013, reserve provided at 1% of risky loan assets listed in a notice issued by SAT and actual loss which is recognized according to tax allowed conditions are deductible before income tax. Lee & Lee Associates Comments: The above notice does not clarify the issue […]

Since 1 February 2012, or sales of self-used fixed assets, under the circumstances listed by a tax notice, general taxpayers can adopt simple method to calculate VAT at half of 4%. . Lee & Lee Associates Comments:  The above notice is a supplementary document to Cai Shui [2009], No.9. In combine, for sales of self-used fixed […]