Company News
Export Tax Rebates in China Up 8.6%
Export tax rebates increased by 8.6 percent in the first eight months of the year, according to China
China Tightens Royalty Payments via Double Tax Treaty Residency
The State Administration of Tax moved last week to clarify the treatment of royalties under the nation’s double tax treaties.
China Banking Regulatory Commission Tightens Lending Policy
The China Banking Regulatory Commission is issuing guidelines effective from next month that slow down or even prevent banks from making new loans, in efforts to curb the excessive growth in consumer credit.
CBRC to Restrict Chinese Interbank Bond Holdings
The China Banking Regulatory Commission is set to tighten banks capital rules by excluding subordinated bonds sold to other banks from their capital base.
Shenzhen Releases New Recognition Measures for High-Tech Enterprises
The Shenzhen government released the Administrative Measures of Shenzhen for the Recognition of High and New Technology Enterprises earlier this month, laying out two sets of rules regarding the recognition of high-tech enterprises in the city.
Annual Filing of Foreign Bank Account Reports for U.S. Taxpayers
U.S. taxpayers holding financial interest or other authority over a financial account in a foreign country amounting to more than US$10,000 are required to file the annual Foreign Bank Account Report (FBAR) by June 30th of the following year.
Hong Kong, Mainland Businesses to Use Yuan for Trade Settlement
Starting next month, Hong Kong businesses will be able to settle international trade in yuan with companies in Guangzhou, Shenzhen, Shanghai, Dongguan and Zhuhai.
Sarbanes-Oxley and U.S. Businesses in China
U.S. business operating in China must remain compliant with SOX, challenging them to design and maintain their internal control structure in an accounting and reporting environment that is early in its development and is rapidly changing.