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China may revise luxury good tariffs

Business | Accounting, auditing and taxation
2011-8-24

CHINA is considering introducing different tax policies for imported luxury products in a bid to end a lengthy dispute on whether to reduce duties on such goods. Gong Huiwen, a researcher with the State Administration...

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Expats losing tax advantage ... at last

Business | Accounting, auditing and taxation
2011-8-18

CHINA'S new tax relief program, which comes into effect on September 1, will mean that people can keep more of the money they earn in their pockets before taxes kick in. All people, that is, except expatriate workers. ...

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Fake document reveals genuine taxation concerns

Business | Accounting, auditing and taxation
2011-8-18

A RECENT tax hoax triggered widespread discussion among China's emerging middle class and proved embarrassing to the taxation authority. The reason for the taxman's discomfit was that many taxpayers said the...

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Tax 'coddled' rich more, urges Buffett

Business | Accounting, auditing and taxation
2011-8-16

BILLIONAIRE Warren Buffett urged the United States Congress to raise taxes on the nation's wealthiest individuals to help cut the budget deficit, saying it won't inhibit investment or job growth. "My friends...

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Tax break under new method of calculation

Business | Accounting, auditing and taxation
2011-8-15

TAXPAYERS in China can look forward to paying less income tax when the State Administration of Taxation starts to tax year-end bonuses under a new method from September 1. The new method comes after SAT issued...

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Audit uncovers misuse of fundsby state bodies

Business | Accounting, auditing and taxation
2011-8-2

GOVERNMENT departments, central state-owned enterprises and state-run projects misused a total of 328 billion yuan (US$51 billion) last year, China's top auditor said in a report yesterday. Local audit authorities...

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No rise in expat tax threshold

Business | Accounting, auditing and taxation
2011-7-29

THE income tax threshold of 4,800 yuan (US$744) enjoyed by expats in China will remain unchanged when personal tax thresholds are raised. At present the threshold is 2,000 yuan with an extra 2,800 yuan for expats....

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No rise in expat tax threshold

Business | Accounting, auditing and taxation
2011-7-29

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Audits discover misuse of money

Business | Accounting, auditing and taxation
2011-7-29

THE Shanghai Audit Bureau has discovered irregularities valued at 136 million yuan (US$21 million) after inspecting the books of 81 projects that were invested by the government last year. In its scrutiny of the...

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Tax revenue posts 30% rise

Business | Accounting, auditing and taxation
2011-7-20

CHINA'S tax revenue rose 29.6 percent to 5 trillion yuan (US$773 billion) in the first half of this year, giving officials more room to maneuver as they grapple with swelling local-government debt. The gain, reported...

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Millions to benefit after tax threshold is raised

Business | Accounting, auditing and taxation
2011-7-1

CHINA is raising the personal income tax threshold to 3,500 yuan (US$539) from September 1, despite saying earlier that it would stick to a previously proposed 3,000 yuan figure. The decision by the Standing Committee...

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China raises personal income tax threshold to 3,500 yuan

Business | Accounting, auditing and taxation
2011-6-30

CHINA'S top legislature today adopted an amendment to individual income tax law, which raises the monthly tax exemption threshold from 2,000 yuan (US$307.7) to 3,500 yuan.

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Hefty tax bill worries online vendors

Business | Accounting, auditing and taxation
2011-6-29

AN online seller in Wuhan, Hubei Province, has been ordered to pay 4.3 million yuan (US$664,600) in business tax, as the city becomes the first city government to tax Internet vendors. Industry people said the...

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Local governments' US$1.65t debt

Business | Accounting, auditing and taxation
2011-6-28

CHINA'S local governments are in 10.7 trillion yuan (US$1.65 trillion) of debt, according to a report by the National Audit Office. Only 54 county governments out of nearly 2,800 in the country had zero debt,...

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Review leaves tax threshold at 3,000 yuan

Business | Accounting, auditing and taxation
2011-6-28

CHINA is to stick to its proposed 3,000 yuan (US$462) threshold for personal income tax despite public opinion that it is still too low to reflect the higher cost of living. However, in its second review of a...