China Master Tax Guide 2013/14 (11th Edition)

CCH’s annual China Master Tax Guide has always enjoyed a reputation for being the indispensable handbook for over 10 years. In keeping with tradition, this latest edition of the Guide provides an overview of the current system, Enterprise Income Tax Law and other tax laws, their application and the changes – effective, pending, and proposed – that have arisen during 2012/13.

This 11th Edition provides clear and easy-to-use guidance you’ll need to know on the new tax treatment in nearly every realm of tax practice, including:

• progress on VAT reform pilot program;
• guidance on when will the secondment of an employee by a nonresident company give rise to a taxable presence;
• tax treatment on dividend income received by individual taxpayers from China listed enterprises;
• interpretation of capital gains from immovable property in the context of Singapore/ China tax treaty;
• guidelines on which companies should be regarded as beneficial owners of dividend received;
• application and interpretation of the listed company safe harbour;
• exceptions to tax exemption of consumption tax on exported consumer goods;
• details of paperless reform for customs clearance;
• updated tax treaty table; and
• updated Advance Pricing Arrangement statistics.

With its hallmark step-by-step guidance and graphic treatment of procedural detail, CCH’s China Master Tax Guide 2013/14 lays out the latest law of China taxation in transparent and non-academic English. The Guide is expertly authored and updated by the professionals at Deloitte Touche Tohmatsu, who use their on-the-ground experience to make the book truly useful for day-to-day work.

An essential guide for all companies that have business dealings in China. It provides an overview of the current China Tax system and covers changes in tax laws. It also explores full spectrum of taxation issues including procedural matters such as assessment and payment, legislation, tax authority interpretation and circulars.

The new Enterprise Income Tax (EIT) Law took effect from 1 January 2008. Since then, various new rules and regulations were released to clarify uncertainties or conflicting interpretations. Besides, there are also new rules for other taxes, such as VAT tax reform. The 11th Edition of the book includes most of these important changes and provides practical guidance for customers to better cope with the new law.

In addition to EIT, China has witnessed reforms amendments of other non-EIT areas a few times in the past three decades, including Value-added Tax (VAT), Business Tax (BT), Individual Income Tax (IIT), Consumption Tax (CT), Real Estate Tax (RET), etc. The IIT law was last amended on 30 June 2011 and the regulations for VAT, BT and CT were last amended in November 2008.

Starting from 1 January 2012, China has launched a pilot VAT program where the taxation of specified sectors will transition to being subject to VAT rather than BT. The Urban Real Estate Tax (URET) regulation previously applicable to foreign investment enterprises, foreign enterprises and foreigners was abolished on 31 December 2008; instead, RET regulation has been applied to foreign investment enterprises, foreign enterprises and foreigners from 1 January 2009.

Undoubtedly, China's tax reforms conducted in the past three decades are a result of the economic development. As the economy continues to grow, additional amendments to the existing tax rules and regulations would be expected.

Benefits:

• Provides individuals and businesses with the answers to practical tax issues 
• Gives an overview of the current China tax system and provides an understanding of how the system has developed to date 
• Expertly updated by Deloitte Touche Tohmatsu