Tax, Accounting and Audit in China 2019 (11th Edition)

Published: October 2019

Tax, Accounting and Audit in China 2019-2020 offers a comprehensive overview of the major taxes foreign investors are likely to encounter when establishing or operating a business in China, as well as other tax-relevant obligations. This is a concise, detailed, and pragmatic guide, ideal for CFOs, compliance officers, and heads of accounting who must navigate the complex tax and accounting landscape in China in order to effectively manage and strategically plan their China-based operations.The Guanghua School of Management, Peking University – a top university in China – has used the Guide as course reference material.

Type Credit US$
49 49.99
  • No. of Pages: 163 pages
  • ISBN: 978-988-14805-8-3

Tax, Accounting and Audit in China 2019-2020 offers a comprehensive overview of the major taxes and tax-relevant obligations that foreign investors are likely to encounter when establishing or operating a business in China. This is a concise, detailed, and pragmatic guide, ideal for CFOs, compliance officers, and heads of accounting who must navigate the complex tax and accounting landscape in China in order to effectively manage and strategically plan their China-based operations.

Taxation affects almost all aspects of doing business in China. Because China has an idiosyncratic legal system widely different to that of Western countries, foreign investors need to develop a strong understanding of taxation in the country to maximize tax efficiency and ensure full compliance with the country’s tax laws and regulations.

In this guide, we discuss China’s tax laws and administration, corporate income tax, value-added tax, and individual income tax calculation methods and applicability. We also cover annual compliance requirements, profits/dividends repatriation and financial due diligence. In the international taxation context, we address topics such as transfer pricing and double taxation treaties.

This practical and easy-to-understand guidebook will be of invaluable use to all executives involved in handling company finances concerning China, including:

  • Chief Executive Officers;
  • Chief Financial Officers; and
  • Accounting Managers Tax Specialists.

The Guanghua School of Management, Peking University – a top university in China – and many other universities have used our guide as course reference material.

Preface 03

Part 1 | China’s Tax System 08

  • A brief history 09
  • Legislative organs 10
  • Tax administration 11

Part 2 |China’s Business Taxes 13

  • Corporate income tax 14
  • Value-added tax 32
  • Consumption tax 60
  • Customs duties 65
  • Other taxes 70

Part 3 | Individual Income Tax (IIT) 84

  • IIT reform 85
  • IIT taxpayers and their liability 87
  • IIT taxable income and tax rates 91
  • IIT deductions 95
  • IIT calculation 102
  • IIT on lump-sum bonuses 105
  • IIT declaration and IIT filing 107

Part 4 |Accounting, Audit, and Tax Compliance 108

  • Chinese accounting standards 109
  • Annual audit and tax compliance 112
  • Profit repatriation 120

Part 5 | International Taxation 135

  • Anti-avoidance 136
  • Transfer pricing 139
  • China’s free trade agreements 147
  • Double taxation agreements 150

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