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Houser
28.04.2003, 15:30
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Subject: China Advisor Monthly Newsletter - April 2003
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Interested in selling to your clients directly
from your own Hong Kong company?
Are you an importer or exporter buying or selling goods in Asia? Would it benefit you if you could sell to your clients from your own Hong Kong company whose operations are cost-effectively outsourced to EM Associates?
Please let us know if you are interested in learning more about the benefits of setting up your own Hong Kong company and structuring it such that its profits are either tax free or subject to the standard rate of 17.5%.

Email or call us in Hong Kong at +852 2345 7899 for more information.
April 2003
Welcome to China Advisor - EM Associates Monthly Newsletter. The practical guide for China market entry, tax, legal, human resource and trade issues.
Our Services consist of:

COMPANY FORMATION in Hong Kong and throughout Mainland China
OUTSOURCING of Accounting, Tax, Invoicing & Finance Functions and Payroll
& Recruitment Functions for Hong Kong and Mainland China companies
CONSULTING in Market Entry Research, Trade & Tax Minimization for Hong
Kong and Mainland China business

If you are:
Looking to establish a Hong Kong or Mainland China company for sourcing,
&raquo; manufacturing or selling in China
&raquo;
Looking to reduce costs, improve efficiency and outsource your non-core
&raquo; administrative functions of accounting, tax, invoicing & finance and payroll
& recruitment of your Hong Kong or Mainland China company

Looking to source, manufacture or sell in China and seeking market entry
&raquo; research, trade and tax minimization consulting and advisory services

Then you should be talking to us:
Mr. Klaus Koehler Mr. Sven Koehler Mr. Donald Quan
Managing Director Principal Consultant Finance & Admin Manager

Please direct initial contact with the above persons in our Hong Kong headquarters.
We speak English, German, French, Cantonese and Mandarin.
10A Seapower Ind. Centre
177 Hoi Bun Rd., Kwun Tong
Kowloon, Hong Kong
Tel: +852 2345 7899
Fax: +852 2357 5666
Email: info [at] emassociates.com.hk
Taxation Issues in China
By Klaus Koehler, Managing Director, EM Associates Ltd.
Email this newsletter to a colleague or friend
Tax matters in China: faulty assumptions
Foreign investors often make faulty assumptions regarding tax matters in China. They believe that China`s tax laws are straightforward and no help of experts is needed. However, there are various complex rules covering numerous aspects of Foreign Invested Enterprise`s business activities in China. Hundreds and even thousands of tax rulings have been issued by the State Administration of Taxation (SAT). Although there are still loopholes in the system, foreign investors unaware of tax planning methods may face serious penalties or losses due to overpayment.
Another belief is that tax matters in China are negotiable. Foreign investors assume that they can negotiate with the relevant tax authority without any need to understand the SAT rulings. However, negotiations are only possible in cases where the SAT rulings are ambiguous, or where the matter is in fact within the tax authority`s discretion to negotiate. It is very important to be aware of and follow the growing number of laws and regulations in the taxation field, since enforcement is being enhanced.
Relevant taxes for foreign invested enterprises in China
1. Value added tax occurs when a seller receives sales proceeds or taxpayers declare imported goods at customs.
2. Consumption tax occurs
- in the case of account sales: at the receipt of sales proceeds in the sales contract
- when sales proceeds have been received in advance: on the date of shipment
- when tax payers import goods: on the date of importation.
3. Resource tax occurs when income is received or goods are shipped.
4. Stamp duty occurs when a certificate is received or a contract is signed.
5. Foreign invested entity income tax is calculated on an annual basis but should be paID: [ID filtered]
6. Individual income tax (IIT) is usually withheld by employers. In any other case, the individual should report in person. The tax should be paID: [ID filtered]
8. Building tax should be paID: [ID filtered]
7. Vehicle tax should be paID: [ID filtered]
9. Land value added tax should be reported to the tax authority. Property certificates, land use certificates, sales contracts, valuation reports and other relevant information must be provided.
Tax rate on the income of foreign investment enterprises
The enterprise income tax rate charged to foreign investment enterprises and foreign enterprises for the income of their organizations and sites dealing in production and business operations in China is determined based on a tax rate of 30 per cent. With a local income tax rate of 3 per cent added, the total is 33 per cent.
Preferential tax rates and other tax breaks
There is a reduced income tax rate of 15 per cent for foreign investment enterprises in special economic zones or productive foreign investment enterprises founded in economic and technological development zones.
Productive foreign investment enterprises founded in the coastal economic open areas and in the special economic zones or economic and technological development zones of cities benefit from a reduced rate of 24 per cent.
A preferential rate of 15 per cent is available for foreign investment enterprises, which are founded in coastal economic zones, in the special economic zones or economic and technological development zones of cities, or in other regions designated by the State Council, and fall under the categories of energy, communications, harbor, docks or other projects encouraged by the State.
Royalties received by foreign investment enterprises or foreign enterprises from the supply of proprietary technologies used in scientific research, energy resources exploration, development of the communications industry, agricultural, forestry and animal husbandry production, and the development of important technologies are charged at a reduced rate of 10 per cent or even exempt if the relevant department of the State Council for taxation approves.
Tax benefits for FIE
Tax benefits for a FIE are limited to specific areas of investments. The FIE will benefit if the investment occurred domestically in one of China`s central or western regions, and the FIE holds 25% or more of the registered capital in the invested company.
China`s income tax system
There are two separate tax regimes in China, one for foreign invested enterprises (FIEs) and the other for domestic enterprises. FIEs are privileged with a tax rate of roughly 50 per cent of what domestic companies are charged, and have substantial incentives available before even having to pay any taxes. Even better incentive packages are offered to FIEs established in the five special economic zones (SEZs) and 49 other development zones, most of which are in the fast-growing coastal regions.
Extra tax incentives offered by some localities in China
Various local authorities have offered incentives lacking any regulatory basis to attract foreign investment. They generally exceed authorized levels or SEZ-type incentives. Since these incentives may be challenged by the central government in the future, it is important to be aware of their legality.
View our Archived China Advisor Newsletters covering the following China topics:
Foreign Invested Enterprises
Accounting Practice & Regulations
Foreign Exchange
Human Resources
Bankruptcy and Liquidation
Taxation
Personal Financial Management
Mergers and Acquisitions

All information in this report is verified to the best of our ability and is assumed to be correct at time of release; however, EM Associates Ltd. does not accept responsibility for any losses arising from reliance on the information provided within.


China Advisor Contents
April 2003
Taxation Issues in China
Email this newsletter
to a colleague or friend
Subscribe to our free monthly
China Advisor newsletter
Publisher
EM Associates Ltd.
Visit us at
http://www.emassociates.com.hk
Press Contact
Mr. Sven Koehler
info [at] emassociates.com.hk

Contact us to view our
Market Entry Guides
for doing business in Hong
Kong and Mainland China
Setting up in Hong Kong
For sourcing goods in China
For selling goods in China
For selling China-made goods
directly to clients worldwide
For a holding company of a
Mainland China company

Setting up in Mainland China
For sourcing goods in China
For facilitating the selling of
imported goods in China
For selling imported goods
locally in RMB
For manufacturing and selling
goods locally
For manufacturing and selling
goods overseas
Our China Offices
Hong Kong
10A Seapower Ind. Centre
177 Hoi Bun Rd., Kwun Tong
Kowloon, Hong Kong
Tel: +852 2345 7899
Fax: +852 2357 5666
Email our Hong Kong office
Shanghai
35107 Citic Square
1168 Nanjing Rd. West
Shanghai, 200041
Tel: +86 21 5111 9163
Fax: +86 21 5252 4616
Email our Shanghai office
Beijing
3 N. Tower Beijing Kerry Centre
1 Guang Hua Rd.
Chaoyang District
Beijing, 100020
Tel: +86 10 8529 8971
Fax: +86 10 8529 8866
Email our Beijing office
Shenzhen
2918 Great China Tower
1008 Jianshe Rd, Luohu District
Shenzhen, 518001
Tel: +86 755 8239 2281
Fax: +86 755 8239 2281
Email our Shenzhen office
Inspection Services
throughout China
Are you importing products
from China and having
quality problems? Contact
our sister company
EM Inspection Services
for more information regarding
their various quality assurance
and buying assistance services
provided throughout China.
Mrs. Isabell Wipiejewski
Sales & Marketing Executive
EM Inspection Services
Email: info [at] emis.com.hk
Web: http://www.emis.com.hk
&copy; 2003 EM Associates Ltd.
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SeeBaer
29.04.2003, 08:08
Hatte ich auch schon an mehrere Adressen in der Fa. - das abmelden hat funktioniert, seit dem ist nichts mehr angekommen.