Mainland China adopts a sophisticated tax system, which is now composed of 18 kinds of taxes, including turnover taxes, enterprise income taxes, property tax, environmental tax, behaviour taxes, resources taxes, and special purpose taxes. Different tax rates, preferential tax treatments, or double taxation reliefs may be applied when certain conditions are met. In general, there is a basic law giving the broad principles of the tax. Detailed implementing regulations and specific rules have been issued by the State Administration of Taxation or other government authorities, which are subject to subsequent updates and revisions from time to time.
We provide professional assistance to individual and corporate clients to review their tax position, manage tax risks, and handle tax compliance, especially for those engaged by a Chinese company, on secondment to Mainland China, or carrying out business in multiple countries and tax jurisdictions.
For example, we help review and provide comments on legal contracts from a Chinese tax perspective, identify tax residency and assess tax exposure for clients, restructure group organisations to achieve tax efficiency, and handle tax investigations from Chinese tax authorities.
We also issue regular China tax updates on new applications of Mainland circulars and their tax implications for businesses and individuals, ensuring our clients and partners maintain optimised and compliant tax positions.
Our sister company Triple Eight Corporate Services can assist with setting up a new business in Mainland China. The New Foreign Investment Law (the “FIL”) was made effective on 1st January 2020. The FIL replaces the three traditional laws namely the Chinese-Foreign Equity Joint Venture Law, the Chinese-Foreign Cooperative Joint Venture Law and the Wholly Foreign Owned Enterprise Law (commonly known as “WFOE”).
The Foreign Investment Law (FIL) imposes different requirements on corporate formation, foreign ownership ratios, corporate governance, and operational management. In particular, the FIL provides that foreign-invested enterprises should follow the PRC Company Law (which applies to domestic companies), the PRC Partnership Enterprise Law, and other applicable laws in terms of form, organs, and operating procedures.
Our services in Mainland China include but are not limited to:
Based in Singapore, HKWJ Tax Consultants Pte. Ltd. makes getting started simple. Tax compliance, accounting, incorporation, business support — our team tailors every solution locally, handled with the discretion and care you expect. Contact us to see how we can support your goals.
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Same commitment, new coordinates — welcome to our Hong Kong branch.
