China’s VAT updates take effect next week

Two important changes to China’s value-added tax (VAT), announced in late March by China’s Ministry of Finance (MOF) and the State Administration of Taxation (SAT), will become effective on May 1, 2018. Both measures, detailed below, are part of a plan to cut taxes by RMB 400bn (USD 63bn) this year to drive “high-quality development”.   1. […]

New Obligation for Hong Kong Companies

From March 1, 2018, each Hong Kong company has to maintain a newly-created “Significant Controllers Register” (SCR). The purpose is to enhance the transparency of corporate ownership and control as per the HK Companies (Amendment) Ordinance 2018.   If you have a HK company, you will need to take these actions by March 30, 2018: […]

China Inbound M&A: Trends, Drivers, and Key Considerations

This interview with Fiducia Managing Director Stefan Kracht was originally published on “M&A Dialogue”: www.ma-dialogue.de Interview by Stefan Gätzner from M&A China/Deutschland Translation by Fiducia   1. How is M&A activity by German and European companies in China developing in recent years? Within our client base, which consists mostly of European mid-sized companies, there is […]

China Offers Tax Break to Foreign Companies

Foreign companies will be temporarily exempted from paying withholding tax (WHT) in China on profits that they reinvest in the country, as long as these re-investments meet certain conditions.   When? The tax break was announced on December 28th 2017, but it is retroactive from the beginning of 2017, meaning foreign companies who are eligible […]

Hong Kong 2018-2019 Budget Highlights

A record-breaking budget surplus of HKD138b (USD 17.6b) for the 2017-2018 fiscal year was the biggest news delivered by Hong Kong Financial Secretary Paul Chan Mo-po at today’s budget address.   Here is a summary of other highlights that are relevant for our clients and partners. >> Click here for a detailed analysis of the […]