withholding tax

Sino-French Double Tax Treaty

On November 26th, 2013 French and Chinese governments have agreed upon a double tax treaty aiming at reducing taxes on companies investing in both France and China. The update was much needed since this text had not been modified for 30 years. It aligns with the tax treaties China has signed with the other European countries.

China France Double Tax Treaty

China has signed 3 treaties last year (2013), namely with Netherlands, Switzerland and France, respectively based on the date of signature. The treaty signed with France is likely to take force next year January as it has been signed on the 26th of November 2013 and is still being affirmed by both parties. Major changes are as follows:

CHINA-SWITZERLAND: THE NEW DOUBLE TAXATION AGREEMENT

Recently China and Switzerland re-negotiated the double taxation agreement that has been in existence since 1990 and signed a new double taxation agreement “DTA”. The new agreement still has to go through referendum in Switzerland so its enforceability is still uncertain. However, if everything goes as planned, it’s expected to become effective some time next year.

NATIONWIDE IMPLEMENTATION OF FOREX REFORMS UNDER SERVICE TRADE STARTING SEP 01, 2013

Recently, the State Administration of Foreign Exchange (“SAFE”) issued guidelines concerning foreign exchange administration under service trade and implementation regulations under circular 30 [Huifa 2013]. The new reforms will be implemented throughout China commencing 01 September, 2013.
Beijing - Shanghai - Shenzhen - Hong Kong - Paris
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