The annual closing is approaching fast and requires following certain strict procedures. Keep reading, so you can start preparing in time!

Working in China, but still not too sure what to do about the taxes? Should one declare their income from China also in their home country or perhaps it's the other way around? With the new IIT law coming out soon, it's a great idea to go through the basics.

The final approved bill increases the monthly tax-free threshold to 5000 yuan (60 000 yuan per year), as compared to the previous 3500 yuan per month. The new tax threshold will apply to both local Chinese employees and foreigners working in China.

China’s State Council executive meeting determined actions to deepen the value-added tax (VAT) reform. The VAT further cut will be effective from May 1st, 2018. Major VAT tax cuts will include: Reduction from 17% to 16% in manufacturing industries; Reduction from 11% to 10% in transportation, construction, agricultural and telecommunication sectors.