China's Recent Tax Reforms and Implications on EU SMEs

Understanding China’s tax system is not as straightforward as someone might think. It is, thus, essential that SMEs grasp how the system works, and which taxes apply to a foreigner leaving in China and to a foreign enterprise.

China has recently implemented changes and reforms on the Individual Income Tax (IIT), the Value Added Tax (VAT) and the Corporate Income Tax (CIT) which show the interest of the Chinese government to improve the business environment for local and foreign enterprises.

Particularly,
• Implementation of the IIT reform, with the aim of easing the tax burden for low income earners, starting 1st January 2019;
• Reduction of VAT rates from 16% and 10% are reduced to 13% and 9%, starting 1st April 2019;
• Tax cuts for SMEs and low-profit enterprises, starting 9th January 2019*.
This webinar addresses the main changes of these reforms and will elaborate on the impact on EU businesses operating in China.