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Here you will find information about our company’s events organization to accounting, tax and consulting topics on which regulators in China are about to publish, enforce or change regulations and requirements.

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Announcement of the State Administration of Taxation on Tax Collection and Administration Issues Concerning the Pilot Program of Individual Tax-deferred Commercial Pension Insurance

Author：Sariel SHENG
Date：2019-01-15

For the purpose of implementing the Circular of the Ministry of Finance, the State Administration of Taxation, the Ministry of Human Resources and Social Security, the China Banking and Insurance Regulatory Commission and the China Securities Regulatory Commission on Launching the Pilot Program for Individual Tax-deferred Commercial Pension Insurance (Cai Shui [2018] No.22, hereinafter referred to as the "Circular"), tax collection and administration issues relating to individual tax-deferred commercial pension insurance (hereinafter referred to as "tax-deferred pension insurance") are hereby notified as follows.

Switch from General VAT Taxpayer to Small-Scale Taxpayer

Author：Helen FANG
Date：2019-01-15

In April 2018, Ministry of Finance and State Administration of Taxation has published the tax circular to unify the criteria of General VAT Taxpayer. Under the new policy, the standard of General VAT taxpayer for industrial and commercial enterprises has been raised to 5 Million RMB, which show the approach of the conciseness in the tax system.? The General VAT Taxpayer, who meets certain conditions simultaneously, may switch its status into a Small-Scale Taxpayer (following to be referred as “Switch”) or opt to continue to be a General VAT Taxpayer.? Following we would like to introduce the related policies of the Switch.

EXPRESS - Circular on Expanding the Applicable Scope of the Policy of Temporarily Not Levying the Withholding Tax on Distributed Profits Used by Overseas Investors for Direct Investment

Author：Yi WANG
Date：2019-01-15

On September 29, 2018, Ministry of Finance and State Administration of Taxation released “Circular on Expanding the Applicable Scope of the Policy of Temporarily Not Levying the Withholding Tax on Distributed Profits Used by Overseas Investors for Direct Investment” (Cai Shui [2018] No.102).