dtt_tax_guide_china_121807

dtt_tax_guide_china_121807 - June 2007 f~=q~=~=_=d=...

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June 2007 ^ éìÄäáÅ~íáçå çÑ aÉäçáííÉ qçìÅÜÉ qçÜã~íëì áå ÅçJçéÉê~íáçå ïáíÜ íÜÉ bÅçåçãáëí fåíÉääáÖÉåÅÉ råáí fåíÉêå~íáçå~ä q~ñ ~åÇ _ìëáåÉëë dìáÇÉ connecting you to worldwide information `Üáå~
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`Üáå~ fåíÉêå~íáçå~ä q~ñ ~åÇ _ìëáåÉëë dìáÇÉ Tax professionals of the member firms of Deloitte Touche Tohmatsu, in co-operation with the Economist Intelligence Unit, a leading provider of country, industry and management analysis, have created the Deloitte International Tax and Business Guides, an online and print series designed to provide insights on tax and business issues in various jurisdictions worldwide. Based on research by the Economist Intelligence Unit and Deloitte, and updated on a regular basis, the Guides contain information on investment conditions, tax regimes and regulatory requirements, along with information for executives working abroad. The Guides are supplemented by the Snapshot series, an at-a-glance summary of basic information, including tax rates, for nearly 100 jurisdictions.
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China International Tax and Business Guide `çåíÉåíë 1.0 The investment climate. ...................................................................................... 1 1.1 Economic structure. .................................................................................................... 1 1.2 Banking and financing. .............................................................................................. 1 1.3 Foreign trade . ............................................................................................................. 1 2.0 Business regulations . .......................................................................................... 2 2.1 Registration and licensing. ......................................................................................... 2 2.2 Price controls. .............................................................................................................. 2 2.3 Monopolies and restraint of trade. ........................................................................... 2 2.4 Intellectual property. .................................................................................................. 3 2.5 Mergers and acquisitions . .......................................................................................... 3 3.0 Foreign investment . ............................................................................................ 4 3.1 Foreign investment incentives and restrictions. ....................................................... 4 3.2 Exchange controls. ...................................................................................................... 5 4.0 Choice of business entity. ................................................................................... 6 4.1 Principal forms of doing business. ............................................................................. 6 4.2 Establishing a branch . ................................................................................................ 8 4.3 Setting up a company . ............................................................................................... 8 5.0 Business taxation. ................................................................................................ 9 5.1 Overview . .................................................................................................................... 9 5.2 Taxable income and rates . ....................................................................................... 10 5.3 Capital gains taxation . ............................................................................................. 12 5.4 Withholding taxes . ................................................................................................... 12 5.5 Foreign income and tax treaties. ............................................................................. 13 5.6 Transactions between related parties. .................................................................... 15 5.7 Turnover and other indirect taxes and duties. ....................................................... 15 5.8 Other taxes. ............................................................................................................... 16 5.9 Tax compliance and administration. ....................................................................... 16
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China International Tax and 6.0 Personal taxation. .............................................................................................. 17 Business Guide 6.1 Residency. .................................................................................................................. 17 6.2 Taxable income and rates . ....................................................................................... 17 6.3 Special expatriate tax regime . ................................................................................. 18 6.4 Taxes on capital . ....................................................................................................... 19 7.0 Labour relations and workforce. ...................................................................... 19 7.1 Visa and entry requirements. ................................................................................... 19 7.2 The employment market. ......................................................................................... 19 7.3 Employees’ rights and remuneration. ..................................................................... 19 7.4 Wages and benefits. ................................................................................................. 20 7.5 Termination of employment. ................................................................................... 21 7.6 Labour-management relations. ............................................................................... 21 7.7 Employment of foreigners. ...................................................................................... 22 8.0 General information. ......................................................................................... 22 9.0 Office locations. ................................................................................................. 24
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1 China International Tax and Business Guide 1.0 The investment climate The report was last updated in June 2007. Political background The Chinese Communist Party (CCP) has held power since the People’s Republic of China (PRC) was founded in 1949. Market reforms enacted over the past three decades have transformed the economy and raised living standards.
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This note was uploaded on 06/22/2008 for the course RE 201 taught by Professor Ac during the Fall '07 term at HKU.

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dtt_tax_guide_china_121807 - June 2007 f~=q~=~=_=d=...

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