Since the late 1970s China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role. UWS can assist you in the process of registering a company in China, to access this exciting market. Company Registration China is the brightest opportunity to people to open their own company [...]
China's financial and taxation authorities announced it would expand its value-added tax (VAT) pilot program to all industries on Thursday in order to deepen the country's fiscal and taxation reform. Starting from May 1, the replacement of business tax with VAT will be extended to construction, real estate, finance and consumer services, to ensure that [...]
China started nationwide tax reforms to use value added tax as a replacement for businesses tax in May. Wednesday was the first day of declaration for the pilot program, and many firms saw their tax burdens significantly reduced. Companies with expenditures for property rentals can enjoy having a large part of their taxes deducted under [...]
Our clients were giving us the following reasons for choosing Shenzhen 1. It’s close to Hong Kong but cheaper. 2. It’s become the electronics hardware center for China, and not just for manufacturing, but for design and engineering. 3. It may not be as exciting as Shanghai or Beijing, but it’s the best place for [...]
Every business and organization has to maintain proper accounting records so as to fulfill the tax reporting requirements while filing the tax return to the Inland Revenue Department and in compliance with the Hong Kong Companies Ordinance. Besides, proper accounting records may also help management to manage the company's operations effectively and efficiently, and to [...]
In Hong Kong most companies are incorporated as private limited companies (limited by shares). The following are the basic requirements for forming a company in Hong Kong. Any individual over the age of 18 years can incorporate a Hong Kong company. Minimum one shareholder who can be a local or foreigner. A shareholder must be [...]
Tax system for foreign enterprises located in China depends on the company`s structure. This article focuses on the taxation for WFOE (Wholly Foreign Owned Enterprise, also called WOFE), that is to say a Chinese corporation totally owned by foreign investors. WOFE doing business in China are liable to the following types of taxes: Income Tax [...]
There are three most common entities for Foreign investor as follows: Wholly owned Foreign enterprise ( “WOFE”) Representative office ( “RO”) Joint venture ( “JV”) In this article we are trying to describe the difference between WOFE and RO in terms of Allowable activities, setup procedure, Capital Requirement, Employment and Tax. […]
reported that Japanese Prime Minister Shinzo Abe will meet the evening of June 1 closing routine Congress held a press conference to formally announce the April 2017 consumption tax increase time again postponed to October 2019. Japan accused the opposition parties said the “failed economic policies should be recognized immediately step down” (Democratic Progressive Party [...]
In Spain, Barcelona football club’s famous Argentine footballer Lionel Messi in Spain for trial, indicted for tax fraud. Lionel Messi’s father accused the court and is responsible for financial management Jorge Messi in 2007 and 2009 tax evasion in Spain, more than $ 4.5 million. Spanish judicial authorities, Lionel Messi and his father Belize and [...]
