what’s the difference between tax avoidance and evasion?
In the wake of the Panama papers revelations, the distinction between tax planning, tax avoidance, aggressive tax avoidance and tax evasion seems to have been lost between the lines. The basic difference is that avoidance [...]
Top 100 Richest Cities In China By GDP Per Capita
Which city is the richest one in China? Here is a ranking based on cities, big or small, in mainland China (excluding Hong Kong, Macau and Taiwan). GDP per capita figures are in USD for [...]
Which are China’s fastest growing cities?
Although the days of 30% annual growth might be a thing of the past, China still boasts many cities experiencing rapid growth. These are cities that few outsiders will have heard of – such as [...]
Top 5 expected highlights at CES Asia 2016
The second annual Consumer Electronics Show Asia will be held at the Shanghai NewInternational Expo Center Wednesday to Friday. Serving as the vane of the technologyindustry, CES Asia showcases the breadth and depth of innovation [...]
Universal VAT scheme will cut tax bills by US$77b
CHINA has replaced all business tax with value-added tax after yesterday extending the policy to cover the construction, real estate, finance and consumer services sectors. They were the last four sectors still taxed based on [...]
Replacing business tax with value-added tax
The replacement of business tax with value-added tax (营改增) is considered the most significant transformation in China's turnover tax system since the 1994 tax reform. This change aims to maintain the fiscal balance in both [...]
