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Tax to the aid of innovation and entrepreneurship in China

As China faces rising labour costs and competition from lower cost countries in the region, incentive supply side programmes such as the HNTE scheme and 150% super deduction will help achieve the government’s aim of solid and stable growth for the Chinese economy as it enters its 13th five-year plan. Alan Garcia, Yang Bin, Josephine Jiang and William Zhang highlight the available benefits for R&D.

December 05 2016

Foreword

China's Year of the Monkey will soon give way to the Year of the Rooster, which will see the closing of another economically and fiscally progressive chapter in China's ongoing development.

December 05 2016

IIT in China – moving with the times

Although China’s individual income tax (IIT) reform is still being incubated and there have been no changes to the IIT Law during the past couple of years, the future of IIT presents both opportunities and challenges. Michelle Zhou, Chris Ho, Vincent Pang, Angie Ho and Jason Jiang look at the future intended changes to the IIT system.

December 05 2016

Post VAT reform in China – what’s next?

China’s indirect tax system underwent a major overhaul when its new VAT reforms were rolled out. Lachlan Wolfers, Shirley Shen, John Wang, and Jean Li take a look at the new indirect tax model and discuss how China has moved away from a bifurcated system.

December 05 2016

BEPS in China – multi-track developments

China’s progress in rolling out the 2015 BEPS recommendations, key cross-border tax enforcement trends in 2016, and the development of China’s external tax policy are the focus of this chapter by Khoonming Ho, Chris Xing, Lilly Li and Conrad Turley.

December 05 2016

Taiwan: tax changes towards growth and progress

Taiwan’s geographic location in the heart of the Asia-Pacific region, together with its low corporate income tax rate of 17%, makes it an ideal place for multinational enterprises to establish their headquarters in the region. Stephen Hsu, Hazel Chen and Betty Lee highlight Taiwan’s key developments over the past year.

December 05 2016

Challenges of the two invoices system for China’s pharmaceutical industry

China has been rolling out various measures to reform its healthcare system. Among these changes, the “two invoices system” has attracted much attention and is likely to affect the way pharmaceutical companies are structured and how they sell their drugs. Grace Xie, Henry Ngai and Thomas Li provide an overview of what is happening in China and how it will impact the pharmaceutical sector.

December 05 2016

China Customs – pushing the boundaries

For China’s customs reform, 2016 has been an important year with quite a few new pieces of customs regulation and guidance having been issued. Eric Zhou, Helen Han, Dong Cheng, Philip Xia and Melsson Yang highlight the changes.

December 05 2016

Hong Kong: A tax boost to the international investment hub

In 2016, Hong Kong has continued to work towards the future with enhanced tax benefits for offshore funds and corporate treasury centres by releasing a raft of guidance and clarifications. Meanwhile, the BEPS movement continues to gain momentum in Hong Kong, while the territory continues to expand its treaty network. Ayesha Lau, Darren Bowdern, Michael Olesnicky and Curtis Ng discuss Hong Kong’s changes.

December 05 2016

Editorial

China has been busy refining its tax system and strengthening its tax policies over the past year, laying the foundations to advance fiscal policies.

Amelia Schwanke, December 05 2016

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