Business&Law » Tax

SOCIAL SECURITY FOR FOREIGNERS IN CHINA, BY SJ GRAND

Social security for foreigners in china In 2010, China passed a new social security law which came into effective on July 1, 2011. The law applies to Chinese citizens as well as foreigners who work or reside in China. Subsequently, on October 15, 2011, “provisional measures for foreigners to participate in Chinese social security scheme” became effective. According to the latest social security policy, all foreigners who work or live in China, including those employees […]   read more

EU’s Financial Transaction Tax is coming

On April 29th the European Court of Justice, EU’s highest judiciary has rejected the UK’s bid against what could eventually become an EU-wide tax Financial Transactions Tax (FTT).  While we are highly unlikely to see such tax being raised particularly soon, one definitely can’t afford the complacency of not treating it as a genuine possibility of even underestimating the importance of such possibility. As it stands, the case of the European FTT has three dimensions: […]   read more

Individual income tax relief for temporary visitors in China

SJ Grand about different issues concerning business in China. A temporary visitor (also known as non-PRC tax resident) is an individual who visits China for a  period up to 90 days (or up to 183 days, if tax treaty applies), continuously or accumulatively, during a calendar year. Temporary visitors are eligible to be exempted from individual income tax (“IIT”) in China on the portion of their income paid by the overseas employer. If the income […]   read more