circular 75

Circular 75: China introduces new policy for accelerated depreciation of fixed assets

In pursuant to the announcement made on September 24, 2014 introducing new policy for accelerated fixed asset depreciation method, the Ministry of Finance and the State Administration of Taxation (SAT) jointly released a circular, Caishui [2014] No. 75 (Circular 75). The circular sets out guidance for the new policy. The circular will become retroactively effective as of Jan 1, 2014.

GUIDANCE ON WHEN STAFF SECONDMENT CREATES TAXABLE PRESENCE IN CHINA

Along with the speedy development of China’s economy and globalization, the need for skilled resources in China is escalating. This has led to an increase in the mobility of human resources to China. Increasingly, multinational companies (“MNCs”) with set up in China are looking for talents within their existing work force from their operations around the world and dispatch them on temporary arrangements to China to assume key technical, management or other positions with the Chinese entity.

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