6 March, 2025 The term “Shenzhen speed” isn’t just a catchy phrase—it’s a testament to the city’s ability to innovate, adapt, and grow at an unprecedented pace. This rapid transformation isn’t limited to infrastructure or technology; it’s also reshaping the opportunities available to foreigners in China. Up until just a few years ago, if you met a foreigner in China,…
7 January, 2025 We often receive questions from foreign clients or friends in China, asking us to explain the local income tax system. Many find it quite different from what they’re used to in their home countries, and understandably so. One of the most surprising aspects of the system is how tax liabilities fluctuate throughout the year. Even if your…
December 6, 2024 Social insurance is a critical component of China’s welfare system, providing essential benefits like healthcare, pensions, and work injury compensation. While it applies to all workers in China, expatriates face unique challenges when it comes to participation. This article aims to simplify the concept of social insurance in China, providing an overview of the system, what’s covered,…
14 September 2024 China to Gradually Raise Statutory Retirement Age Starting January 2025 China has announced a comprehensive plan to raise the statutory retirement age over the next 15 years, marking the first significant adjustment since the 1950s. The decision, adopted by China’s top legislature on September 13, 2024, aims to better utilize human resources and respond to the challenges…
In the early years of China’s opening-up, the concept of Permanent Residency seemed like a distant dream for foreigners. However, as China embraced globalization and recognized the valuable contributions made by expatriates, the doors gradually opened for those seeking to call this incredible nation their permanent home. Navigating China’s immigration system can be complex, with various visa options and residence…
Recruiting top talent in China can be a challenging task for foreign companies due to language barriers, cultural differences, and the competitive talent market. However, with the right approach and support, it is possible for foreign companies to attract and retain high-quality employees in China. One key consideration for foreign companies is to have a thorough understanding of local market…
China is one of the largest and fastest-growing markets in the world, and many foreign companies are eager to establish a presence there. However, understanding the tax system can be challenging, particularly when it comes to corporate taxes. Corporate income tax (CIT) is levied on the taxable income of companies operating in China, regardless of their nationality or ownership structure.…
Ministry of Finance and State Administration of Taxation Announcement No. 15 [2022] In order to further support the development of small and micro enterprises, the relevant VAT policies are hereby announced as follows: From April 1, 2022 to December 31, 2022, small-scale value-added tax taxpayers are subject to a 3% taxable sales income and are exempt from value-added tax; prepaid…
Great news for Futian based businesses on how the government can help you financially during the recent epidemic prevention measures. I will talk about different subsidies that you and your business might qualify for.1. RENT REDUCTION For tenants who rent state owned properties, rent is free for March and 50% of rent for April. For tenants who rent private properties, The government will reimburse…
The following announcement was released on the 14th of March, 2022, by the Ministry of Finance and the State Administration of Taxation. The announcement was published on their official website on March 18, 2022. To access the original Article, scroll to the end of the article, and Scan the QR Code to follow the link to the Government Website. “ANNOUNCEMENT ON…
