Participants of the Belt and Road global tax cooperation initiative
BRITACʘM now has 36 members and 28 observing parties. As a tax authority in China’s cross-border economic activities, it has treaties, memoranda of understanding, journals, etc. for its participating member countries. In its newly launched website, BRITACʘM’s COVID-19 page consists of valuable practices and policy responses to the unprecedented COVID-19 tax scene from the participating members. Some countries belonging to BRITACʘM include China, Ethiopia, United Arab Emirates, Tajikistan, Pakistan, Macao, Hong Kong China, and more. These countries have the same goal to:
- further strengthen tax cooperation;
- focus on quality in the joint efforts to build the B&R; and
- build a community with a shared future for humankind.
Among BRITACʘM’s achievements include the introduction of many preferential policies to soothe and stabilize foreign investment (guide foreign enterprises to reinvest their profits in production and businesses).
Foreign-invested companies have BRITACʘM’s regulations to assist them in getting through the compliance systems in China. Like in any country, however, taxpayers in China prefer avoiding tax disputes to escalate to higher stages. Therefore, getting your tax computations right at the first filing is essential. However, during the limited stages of available tax appeals, it is very important to have competent tax professionals to guide you through every stage of your tax filing. Our Tax and Accountancy practice offers cost-effective integrated services. These include individual and corporate tax planning, outsourced payroll management, audit, and limited review. With an international, multilingual team, S.J. Grand’s accountants in Asia can take care of all your tax and accountancy needs.
By taking part in various global cooperative efforts, China is aiming to make a better tax environment for both Chinese and foreign companies alike. However, organizations and mechanisms organized for this cause can only be successful with the help of the people, in this case, the taxpayers.
Business owners with tax obligations in and out of China can also achieve a more convenient and reliable tax environment with the help of local tax advisors. Despite the COVID-19 pandemic, it is beneficial to all concerned if we pool together our respective best practices and experiences to help fight the pandemic and its related struggles.
S.J. Grand and Kwikdroid
S.J. Grand had been around since 2002. Our firm has emerged stronger having fared through global calamities such as the SARS crisis and the COVID-19 outbreak. S.J Grand’s certified accountants and financial consultants are fully trained to support your business and help give you back control and transparency over your operations.
Our continued growth also led us to the utilization of Kwikdroid, a multi-language and multi-currency accounting and management Cloud-based platform that is fully compliant with Chinese regulations. Your accountant will be with you for every step of the process, whenever you need them. Consulting with your accountant regarding your income taxation is more convenient when everything you need for discussion is in one secured database.
If you want to know more about our latest Cloud-based company solution, go to our Kwikdroid page to check the prices and packages we offer, no matter the size or type of company.
S.J. Grand’s tax and accountancy services provide advisory on China’s tax and business regulatory environment as well as assist in tax breakdowns and simulations for foreign enterprises in China. Contact us to get you started.