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China's tax revenue rises 2.2% in first 9 months

Business | Accounting, auditing and taxation
2009-11-4

CHINA'S tax revenue rose 2.2 percent year on year to 4.51 trillion yuan (US$662.61 billion) in the first nine months, the Ministry of Finance said yesterday. The growth rate for the first three quarters was 23.9...

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Business tax exemptions

Business | Accounting, auditing and taxation
2009-10-1

THE Ministry of Finance yesterday said China exempts business tax on individuals' income from trading financial products such as stocks, bonds, and foreign exchange products. The exemption, approved by the State...

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US changes accounting rules for certain gadgets

Business | Accounting, auditing and taxation
2009-9-26

UNITED States regulators approved changes to accounting rules on Wednesday that in the short term will make sales and profits seem higher at technology companies selling certain gadgets that blend hardware and software. ...

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Boost in auto sales offsets tax losses

Business | Accounting, auditing and taxation
2009-9-24

CHINA lost 11.4 billion yuan (US$1.67 billion) of revenue in the first eight months of this year after halving the sales tax on new energy-efficient cars as part of efforts to revive the auto industry, the State Administration...

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Year-end bonuses to be taxed at lower rate

Business | Accounting, auditing and taxation
2009-9-18

TAXPAYERS in China are getting a break as the State Administration of Taxation yesterday said it will begin taxing year-end bonuses at a lower rate reflecting their one-time status. The clarification was made after...

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Asia tough on transfer pricing

Business | Accounting, auditing and taxation
2009-9-18

MANY multinational companies see the tax departments of China and other Asia-Pacific countries as the toughest in the world when it comes to policing transfer-pricing activities, an industry survey said. China,...

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Taxman hits employee benefits

Business | Accounting, auditing and taxation
2009-9-17

CHINA has imposed taxes on some employee allowances for telecommunications, transportation and other benefits, according to a report on the State Administration of Taxation's Website. Twenty percent of an employee's...

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Tax agent faces leaner returns in first quarter

Business | Accounting, auditing and taxation
2009-9-5

TAX agent H&R Block Inc said yesterday that it lost a larger-than-expected US$133.6 million in the first quarter, about the same as a year ago, as acquisition expenses and other costs offset slightly higher revenues. ...

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13th month salary not to draw full tax

Business | Accounting, auditing and taxation
2009-9-1

CHINA has dropped the practice of levying full income tax on the 13th month salary, or double pay, as it wants to ensure the tax is fair, said the State Administration of Taxation yesterday. Before the move, the...

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Swiss hand list of taxpayers to France

Business | Accounting, auditing and taxation
2009-8-31

FRANCE has received a list of 3,000 French taxpayers with bank accounts in Switzerland as part of a double taxation agreement signed between the two countries last week, according to a report in a French newspaper...

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Firms face taxing time with audits

Business | Accounting, auditing and taxation
2009-8-25

CHINA'S tax man is taking unprecedented steps to strengthen inspection and bolster enforcement in an effort to crack down on tax manipulation that is depleting government coffers in a year of tight finances. The...

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SAT asks firms to check tax payments

Business | Accounting, auditing and taxation
2009-7-21

CHINA'S top tax authority has asked about 100 major domestic companies to check their tax payments as it tightens tax collection against declining tax income this year. The State Administration of Taxation has...

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Gearing up for rule on transfer pricing

Business | Accounting, auditing and taxation
2009-7-21

MORE Chinese companies are increasing efforts to comply with a new rule on transfer pricing as China steps up action to curb tax avoidance by manipulating prices, industry veterans said. The State Administration...

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Chinese firms beef up compliance on transfer pricing

Business | Accounting, auditing and taxation
2009-7-20

MORE Chinese companies are adding compliance efforts on transfer pricing as efforts mount to curb tax avoidance, industry veterans said. The State Tax Administration, China's top tax authority, issued a new rule...

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Authority moves to stop tax evasion

Business | Accounting, auditing and taxation
2009-7-20

CHINA'S top tax authority has made a list of about 100 major domestic companies for self audits as it tightens tax collection due to slower economic growth this year, sources said. The State Administration of...