Search Results for: business

Amendments to Shanghai Housing Provident Fund affects monthly salaries beginning 1 April

Monthly contribution changes to the Shanghai Housing Provident Fund will come into effect from 1 April 2019. On 14 February 2019, the Shanghai Municipal Housing Management Committee of Housing Provident Fund published online The Notice on the Amendment to Shanghai Housing Provident Fund on Payment Basis, Payment and Deposit Proportion and Maximum and Minimum Monthly Payment (Notice) effective from 1 April 2019.

State Council’s Regulations on Housing Provident Fund Administration and Provisions of Shanghai Municipality on Housing Provident Fund Administration

Established […]

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China tax alert: China Individual Income Tax reform — highlights from the ‘Implementation Regulation’

The revised Individual Income Tax (IIT) promulgated on 31 August 2018 and fully effective from 1 January marks significant changes to the individual taxation in China. Primarily, the changes relieve certain tax burdens for low and middle income-earners. In previous tax articles, we have highlighted a number of key takeaways related to IIT.

For foreigners working in China, the new reforms will significantly change income tax calculations and deductible items. Specifically, several significant tax impacts on foreigners are noted in […]

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CHINA | Contract Do’s and Don’ts

“Guanxi” (关系 guānxì) — pronounced gwan-shee — is one of the most potent forces in Chinese culture.

Its direct translation means “relationships”, however, the reality of guanxi is that it relates to “connections” formed over time by the reciprocation of social exchanges and favours, the latter often related to business.  

Foreigners doing business in China are often forced to wrestle with the concept of guanxi in their day to day activities and decision-making process. One area where foreigners find […]

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