China Archives - Tax Heal https://www.taxheal.com/category/international-taxation/china Complete Guide for Income Tax and GST in India Tue, 25 Oct 2016 03:15:44 +0000 en-US hourly 1 https://wordpress.org/?v=7.1 China- Customs audit regulations w.e.f 1 November 2016 https://www.taxheal.com/china-customs-audit-regulations-w-e-f-1-november-2016.html https://www.taxheal.com/china-customs-audit-regulations-w-e-f-1-november-2016.html#respond Tue, 25 Oct 2016 03:15:44 +0000 http://taxheal.com/?p=16418 China- Customs audit regulations w.e.f 1 November 2016 The new measures provide guidelines in implementing customs audit regulations and specify and refine various items in the operation and implementation of the customs audit regulations.  The measures: Add some content related to self-disclosure Add provisions in relation to introducing third-party agencies (e.g., professional accounting or tax organizations)… Read More »

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The new measures provide guidelines in implementing customs audit regulations and specify and refine various items in the operation and implementation of the customs audit regulations.  The measures:

  • Add some content related to self-disclosure
  • Add provisions in relation to introducing third-party agencies (e.g., professional accounting or tax organizations)
  • Add provisions about the customs authority’s jurisdiction
  • Allow the customs authority to adjust the credit ratings of those that do not cooperate with the regulations

Read an October 2016 report [PDF 221 KB] prepared by the KPMG member firm in China: The General Administration of Customs issues the new Measures for Implementation of the Customs Audit Regulations and enterprises should take note of its key content

]]> https://www.taxheal.com/china-customs-audit-regulations-w-e-f-1-november-2016.html/feed 0 Video -Pay federal income taxes without going to IRS office https://www.taxheal.com/video-pay-federal-income-taxes-without-going-to-irs-office.html https://www.taxheal.com/video-pay-federal-income-taxes-without-going-to-irs-office.html#respond Thu, 29 Sep 2016 05:30:29 +0000 http://taxheal.com/?p=14952 IRS Tax Payment Options Find out how you can pay your federal income taxes without having to go into an IRS office. Go to IRS.gov and click Pay Your Tax Bill or just click: https://www.irs.gov/payments.

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Find out how you can pay your federal income taxes without having to go into an IRS office. Go to IRS.gov and click Pay Your Tax Bill or just click: https://www.irs.gov/payments.

]]> https://www.taxheal.com/video-pay-federal-income-taxes-without-going-to-irs-office.html/feed 0 China Country Value Added Tax (VAT) Essentials Guide -2016 https://www.taxheal.com/china-country-value-added-tax-vat-essentials-guide-2016.html https://www.taxheal.com/china-country-value-added-tax-vat-essentials-guide-2016.html#respond Sat, 24 Sep 2016 08:26:36 +0000 http://taxheal.com/?p=14691 China Country Value Added Tax (VAT) Essentials Guid The 2016 edition of the China Country Value Added Tax (VAT) Essentials Guide provides an overview of the indirect tax system in mainland China. It is intended to assist companies doing business in or with China to navigate the indirect tax system. China’s indirect tax system was… Read More »

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China Country Value Added Tax (VAT) Essentials Guid

The 2016 edition of the China Country Value Added Tax (VAT) Essentials Guide provides an overview of the indirect tax system in mainland China. It is intended to assist companies doing business in or with China to navigate the indirect tax system.

China’s indirect tax system was for many years a bifurcated system with VATbroadly applying to the goods sector, and Business Tax (BT) applying to theservices sector. In 2012, the Chinese Government embarked upon extensiveindirect tax reforms to replace BT, which was generally regarded as an inefficient turnover tax as it taxed businesses at each stage of the supply chain, with a VAT for services industries. The application of VAT for services industries was introduced by way of a pilot program which involved the VAT rules for certain sectors being implemented progressively on a province by province basis, however more recently the implementation of VAT has been done nationwide on an industry-by-industry basis. On 1 May 2016 the VAT pilot program was completed following the expansion of VAT to financial services and insurance, real estate and construction, and lifestyle services, resulting in VAT replacing BT for all services sectors.

Download PDF (2.5 MB) of KPMG

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