China alert - Issue 2, January 2011
It is that time of the year again. Corporations are finalising their financial statements and having them audited. The Corporate Income Tax filing season has also begun. Subsequently, corporations may also plan to repatriate profits out of China. Corporations have to consider and resolve many complex issues that are presented by the tax and foreign exchange regulations issued by Chinese authorities in 2010 and earlier. To help corporations to assess their major tax compliance requirements, identify potential tax issues and develop solutions for these issues, we set out below a 2010 Year-End China Tax Checklist.