Just another WordPress site
Regarding to the stricter rule imposes on the corporate bank account in China. The corporate account holder or business owner have to pay attention to the bank verification calls and emails. As the bank will contact you by phone, email or on-site visits. Missing a phone call seems not a big deal. However, if you missed that …
Continue reading “NEW RULE ON CHINA CORPORATE BANK ACCOUNT – PART 2”
What is a WFO E-commerce Business ? WFO E-commerce business stands for Wholly Foreign Owned E-commerce business. Either a foreign individual or corporate wholly owned and registered entity in China. In fact, WFOE is a common business setup by which non-Chinese nationals or non-Chinese corporate entities, when they need to incorporate a foreign-owned limited liability …
Continue reading “Step by step for WFO E-Commerce Business Setup in China”
According to Section 154 of Hong Kong Company Ordinance, every company must appoint a Company Secretary. Along with this article, you can see the importance of a company secretary for every Limited Companies in Hong Kong. In fact, many of the Limited Companies do not know if they have hired a QUALIFIED professional company secretary to help …
Continue reading “IS YOUR PROFESSIONAL COMPANY SECRETARY A QUALIFIED ONE?”
What is Fapiao? Other than invoice, fapiao is a legal receipt that serves as proof of purchase for goods and services. Nevertheless, it is an essential component of China’s tax law, and compliance for businesses. Development of Digitalized Fapiao July 2019 The State Administration of Taxation announced the preparation of Digitalised platform October 2019 Launched online …
Continue reading “CHINA INVOICING SYSTEM WITH ELECTRONIC FAPIAO”
近年来，许多在香港开办公司的大陆客户会被审查他们的银行账户。银行方面会要求填写客户身份识别和尽职调查（KYC），如果没有按规定完成调查，您的银行账户可能会在几个月内被冻结甚至被关闭。 大陆客户可能会在第一次收到通知时感到有点手足无措，为什么银行一定要进行客户调[…]
经济合作及发展组织（OECD）发布了《OECD0的秘书处分析报告：税收协定与新冠病毒肺炎疫情产生的影响》，简称OECD报告。报告分析了新冠肺炎全球流行可能引发的跨境税收问题。分析提到由于政府实施了各种检疫措施和出行限制导致常设机构设立改变税收居民身份。 关于疫[…]
Investors hesitated mostly when starting a business in China, including lots of companies that are setup Hong Kong . In general, they don’t have enough and all rounded information about the policies and regulations about businesses in China. In the past few years, Hong Kong Government is setting up the Hong Kong Economic and Trade …
Continue reading “Hong Kong Economic and Trade Office in Guangdong (GDETO)”
Recently many Chinese Clients holding a Hong Kong Limited were enquiring about their company bank accounts. Banks has been asking to fill out KNOW-YOUR-CUSTOMER (KYC) questionnaires or even informing them that their accounts will be frozen up or closed down within next few months. These Chinese Clients came panic and asking what do they need …
Continue reading “KNOW-YOUR-CUSTOMER QUESTIONNAIRE REQUEST BY YOUR COMPANY BANK ACCOUNT”
Measuring inventory accurately is essential to a success business operation. Without keeping an accurate record, you risk upsetting your customers as well as increasing the cost of carrying more products then your customers need. Ultimately, you will suffer from losing profit. On the other hand, when the goods records are well kept with true accuracy, …
Continue reading “MANAGING YOUR INVENTORY AND ACCOUNTING WORK”
The Organisation for Economic Co-Operation and Development (OECD) published an analysis entitled “OECD” Secretariat Analysis of Tax Treaty and the Impact of the COVID-19 Crisis”. (OECD Analysis). The OECD Analysis provides guidance on cross-border tax issues arising from the COVID-19 pandemic. The analysis mentioned the lead to creation of PERMANENT ESTABLISHMENT or change in the …
Continue reading “HONG KONG ENTREPRENEURS’ TAX REPORTING DURING PANDEMIC”