What do foreign enterprises need to know about the new changes to China’s VAT law? This article from Hawksford offers a quick guide As of the end of 2024, China elevated 14 out of 18 tax categories from administrative regulations to formal laws, marking a milestone in aligning domestic practices with international standards. Central to this transformation is the Value-Added Tax (VAT) Law, which represents China’s largest tax category and …
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China’s instant VAT refund policy for foreign tourists is a strategic move to invigorate the country’s tourism and retail sectors Effective since 8 April 2025, China’s instant VAT refund initiative allows eligible international visitors to receive VAT refunds directly at the point of purchase, as opposed to claiming refunds upon departure. The policy, which was piloted in major tourist destinations like Beijing, Shanghai, and Shenzhen, has now been expanded across …
Repatriating profits from China can be complex but there are a number of options, writes Valur Blomsterberg of accountancy Integra Group China has long maintained strict foreign exchange controls over funds entering and leaving the country, which means that foreign investors face a series of compliance challenges before they can move funds out of the country. With the current pace of regulatory changes and with banks adopting various anti-money laundering …