Subscribe to feed Latest Entries

New Regulations for Third-Party Payment Services

Posted by PTL Group
PTL Group
PTL Group has not set their biography yet
User is currently offline
on Wednesday, 08 March 2017
in Business in China

The past few years have shown that payment through third-party services has become more and more popular among the Chinese population, and this popularity is only set to increase. Today many shops, retailers and restaurants accept third-party mobile payments such as Ant Financials’ Alipay or Tencent Holding’s WeChat Pay. On one hand it is convenient for customers to use third-party payment, but on the other hand it has a higher risk of money laundering and there is less transparency with these companies.

Tags: Untagged

2017 Chinese/Jewish Holidays Calendar

Posted by PTL Group
PTL Group
PTL Group has not set their biography yet
User is currently offline
on Tuesday, 13 December 2016
in Business in China

Tags: Untagged

China's New Transfer Pricing Rules

Posted by PTL Group
PTL Group
PTL Group has not set their biography yet
User is currently offline
on Friday, 02 December 2016
in Business in China

Written by Zachi Lichtblau at Bonnard Lawson International Law Firm

On the 13th of July 2016 China's State Administration of Taxation (‘SAT’) released Bulletin 42 that contains the new transfer pricing documentation rules. Since it will have a far-reaching impact on taxpayers, it is of great importance to be aware of the content and effects of these (partly) new rules. In principle, all multinational companies engaged in cross-border, related-party transaction can expect to be significantly affected by the transfer pricing documentation requirements in Bulletin 42. An exception has been made for multinational companies that are engaged in purely domestic related-party transactions.

Tags: Untagged

HR Management Can Be Tricky in China

Posted by PTL Group
PTL Group
PTL Group has not set their biography yet
User is currently offline
on Wednesday, 23 November 2016
in Business in China

Interview with PTL Group HR & Admin Manager--Jasper Zhang

Jasper Zhang, a professional HR and Admin expert, joined PTL Group in 2011. Jasper has intensive experience in recruitment, HR management, payroll, KPI evaluation and various admin and mass layoff projects.

Q: What do newcomers and foreign companies coming to China need to learn before they start to hire employees here?

A: I think that there are two things foreign companies need to learn before they start to recruit their local employees: the Chinese Labor Contract Law and the C&B (Compensation & Benefit) system. For the C&B system in China, foreign employers should keep in mind that, conventionally, Chinese employees will always ask for something more than gross salary, e.g. a transportation allowance. So when checking with a Chinese candidate what their current income is remember to also ask about the salary package on top of the gross salary. In addition, you also need to understand the social benefits and housing system in China. By doing so, you will understand the total employer cost to you to hire this candidate.

Tags: Untagged

Termination Terms under the Chinese Labor Contract Law

Posted by PTL Group
PTL Group
PTL Group has not set their biography yet
User is currently offline
on Wednesday, 23 November 2016
in Business in China

There are several forms needed to end a labor contract in China and each one of them has its own set of terms and rules; how the employer can end the contact, how the employee may quit, and how the severance payment should be calculated. These are some of the issues we have included in this brief guide to help you assess the termination terms in Chinese employment contracts.

Tags: Untagged