Category Archives: Tax Law

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China Issues Notice on Withholding Tax Regime for QFIIs

On January 23, 2009, China’s State Administration of Taxation (“SAT”) issued a Notice on the Issues Concerning Withholding the Enterprise Income Tax on the Dividends and Interest Paid by Chinese Resident Enterprises to Qualified Foreign Institutional Investors (“QFIIs”) (hereinafter referred to the “Notice”). The Notice clarifies some withholding tax rules relating to QFIIs under both … Continue Reading

China Abolishes Urban Real Estate Tax

On January 1, 2009, China abolished the Interim Regulations on Urban Real Estate Tax.  Under those regulations, the Urban Real Estate Tax had been levied on real property purchased in China by: 1) Chinese enterprises with foreign investments; 2) foreign enterprises; or 3) foreign individuals (all three collectively referred to below as "Foreign Investors").  As … Continue Reading

China Issues New BT Regulations

Implementing Regulations Relating to PRC Business Tax In China, a 5% "business tax" is imposed on the gross amount received for certain services and the transfer of certain intangible and immovable properties.  On December 25, 2008, the Ministry of Finance of the People’s Republic of China (“MOF”) and the State Administration of Taxation of People’s … Continue Reading

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