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Thema: [UCE] China Advisor Monthly Newsletter - April 2003

  1. #1
    Houser
    Gast

    Standard [UCE] China Advisor Monthly Newsletter - April 2003

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    From: EM Associates Limited <EM_Associates_Limited_rybzqr@gm44.com>
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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@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 in advance quarterly within 15 days and should be declared within five months after the end of every year.
    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 and reported within the first week of every month.
    8. Building tax should be paid as required by the local government, usually per quarter or half year.
    7. Vehicle tax should be paid as required by the local government, usually per quarter or half year.
    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@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@emis.com.hk
    Web: http://www.emis.com.hk
    &copy; 2003 EM Associates Ltd.
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  2. #2
    SeeBaer
    Gast

    Standard RE:[UCE] China Advisor Monthly Newsletter - April 2003

    Hatte ich auch schon an mehrere Adressen in der Fa. - das abmelden hat funktioniert, seit dem ist nichts mehr angekommen.



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