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China Has Amended the Individual Income Tax Law

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on Friday, 19 October 2018
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On 31st August 2018, the Fifth Session on the Standing Committee of the 13th National People's Congress passed the Amendments to the PRC Individual Income Tax Law (IIT Law).

The main objective of the IIT Law amendments is to ease the tax burden on low and middle income earners. This is achieved by raising the IIT threshold and adding further deductible expenses. Thus, from 1st October 2018, the minimum threshold for personal income tax will be increased from RMB 3,500 per month to RMB 5,000 per month.

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What Effects Will the New Customs Regulation Have?

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on Friday, 19 October 2018
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The General Administration of Customs issued regulation No.56 on the adjustment of manifests and means of water and air transportation for imports and exports in China. The regulation included details on electronic data declaration and filing specifications, amongst other things. The regulation took effect on 1st June 2018. 

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The Shifting Supply Chain in Asia——By Daniel Krassenstein

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on Friday, 19 October 2018
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During this year’s Autumn Partners Event, Daniel Krassenstein gave a fascinating presentation on “The impact of the Trade War on the supply chain between USA and China”

Daniel is the Director of Asia Operations for Procon Pacific, a global packaging solutions company, and has over 30 years’ experience across the world in international supply chain management. Being been based in Shanghai for the past 13 years, he is an expert in the Chinese supply chain process.

While most are concerned with the current ‘Trade War’ between China and the USA, what Daniel interestingly noted is that China and USA are both on divergent paths. In fact, the trends in Global supply chain show that a natural shift is taking place, with manufacturing moving to South and South East Asia, particularly India and Vietnam, as opposed to a shift influenced by trade sanctions.

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PTL Group introduction

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on Monday, 01 October 2018
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The Challenges of WOFE Deregistration

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on Monday, 01 October 2018
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Case Study 1

Company X was training individuals as support workers for other companies. The Chinese government invested a lot of money into the company, giving them grants and loans, as an incentive to set up in China. The process to recruit and train the support workers was time-consuming and expensive, eventually after several years the company decided to shut down after not seeing enough returns for the time it had invested.

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