Welcome to our ECOVIS Ruide News and Blog section

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.

Furthermore you can via this page also access our Focus China Blog. Be ready for monthly updates in form of articles from our professional auditors and tax consultants, and news of events and changes in China’s tax laws as they happen.

Bookmark our site, and check back often to learn more about the news influencing your finance, controlling and accounting departments and to stay on top of changes to your business environment before and as they happen to the advantage of your overall business.

The Latest Regulations for unbilled income in VAT filing

Author：Jack WU
Date：2018-09-30

According to “Circular of the State Administration of Taxation on Issuing the Operating Rules for the Administration of Checking Value-added Tax Returns (for Trial Implementation) (ShuiZongFa[2017] No.124)”, from 1st May 2018, a new comparison method for value-added tax was formally adopted. The operating rules were known as the strictest VAT filing comparison in history. A bit careless will cause the lock of tax-control equipment, which would result in the inability to issue invoices and increase the non-cash cost of the Company. Here is our interpretation of the 124th article, we try to help the Company avoid such potential risks:

Announcement of the State Administration of Taxation on Matters Concerning Safekeeping Asset Losses Materials for the Enterprise Income Tax Purpose for Future Reference

Author：Michelle SHEN
Date：2018-08-31

In order to further deepen the reform of"streamlining administration, delegating powers, strengthening regulation and improving services" in the tax system, simplify the tax declaration materials to be submitted by enterprises and relieve tax-related burdens on enterprises, the State Administration of Taxation released the Announcement of the State Administration of Taxation on Matters Concerning Safekeeping Asset Losses Materials for the Enterprise Income Tax Purpose for Future Reference(Announcement of the State Administration of Taxation [2018] No.15) (hereinafter referred to as “the Announcement”) on April 10, 2018. The Announcement clearly states that materials about enterprises' asset losses will no longer be requested and requirements in respect of safekeeping materials on enterprises' asset losses for future reference. This Announcementis applicable to the final settlement and payment of enterprise income tax from the year 2017 and thereafter.

"Beneficial owner" Enjoy provisions of the tax association

Author：Edmund CAO
Date：2018-06-30

To standardize the tax treaty dividends, interest, royalties clause in application of the concept of "beneficial owner" agreement to prevent abuse, at the same time on the problems in practice corresponding adjustment and clear. on February 3, 2018, State administration of Taxation issues the state administration of taxation announcement No. 9, 2018, (hereinafter referred to as the "Notice 9”)