China: Summary of tax, customs developments

China: Summary of tax, customs developments

The KPMG member firm in China reports on the following tax developments.

Related content

  • The State Administration of Tax (SAT) Director responds to the “hot issues” of value added tax (VAT) reforms 
  • Proposals for advancing financial and tax reforms and legislations by National People’s Congress (NPC)
  • Real estate tax law included in the preparatory item of 2016 legislation plans
  • “Charity law” adopted by NPC
  • The fourth Protocol to China-Hong Kong income tax treaty enters into force (SAT Announcement [2016] No.12)
  • SAT and OECD jointly set up a multilateral tax centre
  • Beijing State Tax Bureau promotes issuance of electronic “ordinary” VAT invoices through the electronic VAT invoice system• Application for enjoyment of preferential import tax policies for the key technical equipment clarified (Gong Xin Ting Lian Cai [2016] No. 40) 
  • Customs authority ceases the pre-approval of deferred payment of tariffs and duties collected by the customs on imports (GAC Announcement [2016] No.15)

 

Read a March 2016 report prepared by the KPMG member firm in China

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