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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.

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.

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Circular on Increasing the Proportion of Extra Pre-tax Deductions of Research and Development Costs for Medium- and Small-sized Tech Firms

Author：Sariel SHENG
Date：2017-08-31

According to current Chinese Enterprise Income Tax Law, additional deduction of research and development (hereinafter referred to as the"R&D") expenditures do not form intangible assets and accounted into current term profit and loss, such expenditures shall be subject to 50% more additional deduction after being deducted in full amount in light ofactual situation; where the above-mentioned R&D expenditures for mintangible assets, they are subject to amortization based on 150% of intangible asset costs. The policy has brought benefit to most of the domestic enterprise which has R&D expenditures.

Explanation of (Cai Shui [2017] No.39) and the related Announcement

Author：Fang FANG
Date：2017-07-31

Recently, the Ministry of Finance, the State Administration of Taxation, and the China Insurance Regulatory Commission have jointly distributed the Circular on Expanding the Pilot Policy of Individual Income Tax (IIT) on Commercial Health Insurance for Nationwide Implementation (the "Circular"), effective from July 1,2017.

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”).