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On 18 May, 173 million RMB of non resident enterprise income tax which was declared by certain transnational investment group had been put in storage in Jiangdu National Tax Bureau in Jiangsu Province. This is another case concerning tax issues of indirect equity transfer after 2008 Chongqing case, and also the first case after the Circular 2009 No. 698 (hereafter referred to as “the Circular”) came into force. Meanwhile, to date, the sum of tax payment is definitely the largest one. More than that, it means, ever since the issuing of the Circular, China tax authority put taxing on indirect equity transfer into the practice stage.




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