Search Results for: business

China VAT rate reductions in effect from 1 May

This post is part of Horizons ongoing sharing of important information related to the implementation of China VAT reforms.

China business enterprises within 17% and 11% value-added tax rates subject to a 1% reduction

On the 4 April 2018, the Ministry of Finance and State Administration of Taxation jointly announced (Cai Shui [2018] No. 32) that the VAT rate applicable to manufacturing and trading industry shall be decreased from the current 17% to 16% for transportation, construction and basic telecommunications services; and 11% […]

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Companies (Amendment) Ordinance 2018: Maintaining of Significant Controllers Register by Hong Kong Incorporated Companies

The Companies (Amendment) Ordinance 2018, which came into operation on 1 March 2018 imposed on companies incorporated in Hong Kong (excluding listed companies in Hong Kong) an obligation to maintain a Significant Controllers Register (SCR).

Coupled with the Common Reporting Standard, which took effect on 1 July 2017 in Hong Kong, the new provision reflects the government’s intention to increase the transparency of corporate beneficial ownership in order to enhance Hong Kong’s regulatory regime to combat money laundering and terrorist financing.

1. […]

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China investment news: New regulation smooths the way to continued outbound investment

On 26 December 2017, the National Development and Reform Commission (NDRC) promulgated the Administrative Measures for the Outbound Investment of Enterprises (Regulation No.11), effective 1 March 2018. Regulation No. 11 reflects a robust move to simplify responsible Chinese outbound investments into an online record-filling system without capping the maximum investment amount. Comprising six chapters and 66 articles, Regulation No.11 replaces the 2014 Administrative Measures for Approval and Record-filling of Overseas Investment Projects (No. 9), to provide a streamlined administrative mechanism […]

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