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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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Measures on the Due Diligence of Non-resident Financial Account Information in Tax Matters

Author：Gary PENG
Date：2017-07-31

On 19 May 2017, the State Administration of Taxation (“SAT”) of the Peoples’ Republic of China (“PRC”) along with the Ministry of Finance(“MOF”), People’s Bank of China (“PBOC”), China Banking Regulatory Commission(“CBRC”), China Insurance Regulatory Commission (“CIRC”) and China SecuritiesRegulatory Commission (“CSRC”) jointly released to the public the “Measures on the Due Diligence of Non-resident Financial Account Information in Tax Matters”, Announcement (2017) No. 14, dated 9 May 2017 (hereinafter referred to as the “Announcement 14”). This is a long-awaited tax and regulatory circular which provides the overall framework for implementing the Standard for Automatic Exchange of Financial Information in Tax Matters (hereinafter referred to as “the AEOI Standard”) in China that was formulated by the Organization for Economic Co-operation and Development (“OECD”).

The Special Administrative Measures (Negative List) for Foreign Investment Access to Pilot Free Trade Zones (FTZs) (2017 Edition) has issued

Author：Richard SHENG
Date：2017-07-31

Recently, the General Office of the State Council has issued the Special Administrative Measures (Negative List) for Foreign Investment Access to Pilot Free Trade Zones (FTZs) (2017 Edition), effectiv

Tax Havens will be vanished, overseas assets have no place to hide----- China is speeding up the global exchange of tax matters

Author：Jay SU
Date：2017-07-31

July 01, 2017, so called Chinese version of CRS (“Theregulation”) is formal effective. The document was jointly promulgated by China Insurance Regulatory Commission, China Banking Regulatory Commission, China Securities Regulatory Commission, the Ministry of Finance, the State Administration of Taxation and the sixth ministry of the people’s Bank of China. Due diligence procedures under the regulation will be applied to domestic financial institutions collecting information related to tax matters on non-residents’financial account from July 1st.