Ella's blog

Real income tax threshold hiked to CNY4,545

From 1 September 2011, the taxable amount of Personal Income Tax will become CNY4, 545 which means there will be 60M of Chinese personal tax payer need not pay for PIT from that time. 

China recently raised the personal income tax threshold from 2,000 yuan to 3,500 yuan, which reduced the population paying this tax from 84 million to 24 million. The new income tax threshold of 3,500 yuan ($541) is for a person's income after deductions have been made for social basic insurance premiums and the housing public fund.  The social basic insurance includes the basic pension insurance, basic medical insurance and unemployment insurance.

New Regulation about Registered Chop Specific for Fapiao in Shenzhen

On February 25, 2011, Shenzhen Local Tax Bureau released a new mandatory regulation about fapiao management. The main content of it is that all tax payer, no matter General Tax Payer or Small Tax Payer, should stamp all kinds of fapiao with “chop specific for fapiao”. This kind of chop is no necessary for small tax payer before. And the Company’s tax ID No. should be showed on the new chop specific for fapiao.
So, all small tax payer should go to the authorized chop making shop to make another additional new chop and register it in Public Security Bureau. The new regulation was affective from March 1, 2011.
This is another disgusting rule which increases enterprise’s cost after the Impact Printer rule’s release at the end of last year. It is so different from all the other countries in the world. The importance of CHOP becomes bigger and bigger inside China, while online system and signature identification system outside China works very well. It seems the development direction in this area is going backwards.

Austerity VS My Father is Li Gang

The 2010 most popular network glossary in USA is AUSTERITY and “My father is Li Gang” in China Mainland.  We can tell USA has not break away from the shadow of economic crisis until 2010 and China’s severest problem is anti-corruption from these two popular word and phrase. The USA’s excessive waste is worldwide well-known. Li Gang is a local governor whose son killed a college student in college campus when driving a luxury racing car to pick up his girl friend.  Li Gang’s son roared to the school guard to let everybody know his father is who and tried to escape the spot.
The top CTR blog about USA in China is that the teacher in USA Kindergarten made a list to the parents to show what kind of Christmas gift she wants to receive, which can show the life of USA people is really in a hard situation.

Urban Construction Tax and Education Surcharge from Dec. 1

As of today, all foreign-invested enterprises are obligated to pay the urban construction tax and education surcharge. These taxes have been applied to local businesses since 1985 and 1986, respectively, and will now be applied universally as part of the government’s program of tax unification.
Until now, FIEs have been exempt from paying these taxes as a way to attract foreign investment. However, in guofa 35, an amendment to the national law, the State Council directed that the exemption be lifted as of December 1, 2010. This means that a business will pay the additional taxes in January for income derived from the month of December.

New Regulation about Immigration To Shenzhen, China

It is important to know this new regulation for all foreigners who are applying or holding Z-VISA in Shenzhen, China. Briefly saying, you should go back to the beginning point after you finish all the old procedures of applying Z-VISA. 
According to Article 3 of new regulation issued by Shenzhen Public Security Bureau on July 30, 2010, there is one more step you should complete to close the whole procedure of applying Z-VISA in Shenzhen, China.

The Dove World Outreach Center of Gainesville

The Dove World Outreach Center of Gainesville, Florida is planning, and encouraging every Christian to participate in, “International Koran Burning Day.” To show the world that Islam is the devil. “Somebody’s got to stand up.” They say.
It’s all over the news. Every freedom fighter or “terrorist” from here to Zimbabwe is pissed off. Why? Well, I imagine Bible burnings set off a few Christian emotions as they have happened in history… it’s a well known taboo NOT to burn holy books.

Four-fifths of expatriates enjoy SZ life: survey when 30th anniversary

Shenzhen, the first Special Economic Zone in China is saluting her 30th Anniversay birthday. During these 30 years, this city has been attracted lots of foreigners to come to work and study.

China consortium ‘may bid for AIA’

A CONSORTIUM of leading Chinese companies including Industrial and Commercial Bank of China Ltd., China Life Insurance Co. Ltd., plans to bid for a 30 percent stake in American International Group (AIG) Ltd.’s Asian life insurance business, AIA.
That would mean an investment of about US$10 billion based on AIA’s estimated US$30 billion value, which was what British insurer Prudential Plc. last agreed to pay for AIA before its bid collapsed earlier this year.
Bailed out insurer AIG is planning to list American International Assurance (AIA) on the Hong Kong stock exchange later this year, which could raise about US$15 billion.

Geely completes Volvo acquisition

CHINESE carmaker Geely Holdings Group Co. Ltd. said yesterday it had completed its US$1.8 billion-buyout of Ford Motor Co.’s Volvo unit, in a landmark foreign acquisition by a Chinese company.
At a handover ceremony held in London, Ford delivered all of its Volvo assets to Geely Holdings Group, after the deal won approval from regulators in China, the United States and the European Union.
In a telephone interview with Xinhua, Li Shufu, chairman of Geely Group and Volvo Car Corporation, said he hoped to restore Volvo to a leading position in the global luxury auto market.

China Tightens Administration of Permanent Representative Offices of Foreign Enterprises

On January 4, 2010, the State Administration of Industry & Commerce (“SAIC”) and the Ministry of Public Security (“MPS”) jointly issued the Notice Regarding Further Strengthening the Registration and Administration of Permanent Representative Offices of Foreign Enterprises (the “Notice”). The Notice refers to the Administrative Measures on Registration of Permanent Representative Offices of Foreign Enterprises (the “Measures”), but imposes stricter requirements with respect to granting registration certificates and approving amendments for the permanent representative offices of foreign enterprises (“Representative Offices”), as well as imposing enhanced supervision and administration on the business activities of the Representative Offices. Although unclear, it appears the Notice is effective immediately.

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