Contributing Member of the Accounting & Financial Analysis Councils

Names and details of certain GLG News authors are available only to GLG Clients and Council Members. GLG News authors are subject-matter experts within the GLG Councils and are available for expert consulting - by phone, in-person, or written analysis. To find out how to become a GLG client or Council Member, click here.

GLG News by this Author

Analyses are solely the work of the authors and have not been edited or endorsed by GLG.

Offshore Holding for Foreign Invested Enterprises may now be under China Tax Rules

June 22, 2009

Analysis of:Financial Times | www.ft.com

The mainland tax authority has delivered grim news. In early 2009, the China State Administration of Taxation has issued a few circulars to revise the existing rules governing foreign companies earning income from China. These circulars basically cover all types of income foreign companies may earn from China. It could be a foreign company having a working place in China and earning service income or a foreign company without any place or person in China but earning passive income such as dividend, interest, royalty, rental and capital gain from China. In particular, circular No. 3 and No. 19 set out detailed compliance and disclosure requirements. They include mandatory registration, periodic reporting, final reconciliation, etc. Failure to do any step may cause trouble in remitting money out of China.

Page : 11 to 1 of 1

Request a News Analysis

Subscribe to Updates

By RSS