October 2014

Special Preferential Tax Policies in Qianhai Shenzhen-Hongkong Modern Service Industry Cooperation Zone ——Annie Lyu

 A young man just had a job in Qianhai, Nanshan District in Shenzhen couple of days before, and found there were construction works everywhere. He was told that the headquarter of the company he was employed will move in Qianhai in a very short time. Not only his company, many companies may have the thought to move in Qianhai area, due to a Special Preferential Tax Policies there. Let's take a look at the policy.

What is Civil Disobedience——Annie Lyu

 Recently, Hong Kong Bar Association made a statement on the rule of law and civil disobedience. Let's see what is Civil Disobedience in Wikipedia.

Civil Disobedience is the active, professed refusal to obey certain laws, demands, or commands of a government, or of an occupying international power. Civil disobedience is sometimes, though not always, defined as being nonviolent resistance.

Shall the company pay Trade Union expenditure?---Denise Xia

One of our client’s companies got a notice from the Tax Bureau that Trade Union expenditure shall be paid accordingly. And the Trade-Union expenditure being paid is 2% of the employees’ wage, which is not a small cost.
 
So what is Trade Union? 
It is a union organized by the people who have the same interest on the purpose of negotiating the salary, work time and work condition with the employers.
 
What kind of people or company shall pay the Trade Union expenditure?
According to Trade Union law of the people’s republic of China, ChapterⅴTrade-Union funds and Property, Article 42 The source of Trade Union fund;
The source of Trade Union fund includes:
1. Membership dues paid by union members;
2. The units established Trade-Union organization press 2% of all employees’ wage to the Trade Union, or pay through Tax Bureau.
3. Paid income from the enterprise or public institution belongs to Trade union.
4. Government allowance.
5. Others income. 
 

Regulations on issuing RMB share of China enterprises in oversea market is drafting---Denise Xia

 

People’s bank of China is drafting RQDII (RMB Qualified Domestic Institution Investor) mechanism to push forward QDII2 (Qualified Domestic Institution Investor) mechanism, which means direct invest in oversea on persons and issue RMB share of China enterprises in oversea market will be permitted in the near future, according to a regulator officer on central currency policy.

According to statics of SWIFT (Society for Worldwide Interbank Financial Telecommunications), RMB has become the 2nd Trade Finance Currency and the 7th international payment currency in the world.

Accompanied by the accelerated process of RMB internationalization, the regulators is making two-way open capital market of China.