Tax & Accounting Blog

11-11 Alibaba Shopping Festival:  Others chop their hands off, we talk about tax

11-11 Alibaba Shopping Festival: Others chop their hands off, we talk about tax

  My friend Lily announced she has received her 31st parcel ordered on 11-11 Shopping Festival (usually called as “Double 11”) this morning. I want to chop my hands off, Lily said. In China, Hands-chopping People refer to big online spenders who self-mockingly say that they would like to chop their hands off after buying … Read More

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A Name on the Taxpayer Black List Could Freeze A Business in China

China Tax News reported 6 tax audit cases, which have brought the revised Taxpayer Black List regime and the Joint Punishment mechanism under spotlight. The Black List regime took its debut in July 2014, upon State Administration of Taxation (SAT) announced Bulletin 2016 No. 41 (Measures for the Disclosure of Significant Tax Law-breaking Cases). … Read More

Transitioning to GST Involves Unparalleled Work and Big Challenges

Transitioning to GST Involves Unparalleled Work and Big Challenges

GST or VAT is prevalent in world over in almost 150 countries where no distinction is made between goods and services for levying tax. GST is a multi-layer tax where the consumer of the good or services bears the ultimate burden of the entire tax. In India, the current indirect taxes structure is complex and … Read More

Does Ritz-Carlton Deserve the Fine for Uplifting Price after China VAT Reform?

Does Ritz-Carlton Deserve the Fine for Uplifting Price after China VAT Reform?

In late July, Ritz-Carlton and Crown Plaza hotels in Beijing, together with other four companies in the real estate and hospitality (hotel, catering) sectors, were fined by China for using VAT reform to justify price uplift. Based on complaints received by price watchers, the National Development and Reform Commission (NDRC) led an investigation … Read More

China: 1 year transition for e-commerce

China: 1 year transition for e-commerce

By Yanchen Zhou On 24 May 2016 , subject to State Council’s approval, China’s General Administration of Customs (GAC) announced the new administration rules (Shubanfa [2016] No.29) in the transitional period for cross-border e-commerce retail import. Suppliers of goods to Chinese consumers had been worried about how the new regulations could impact their bottom line … Read More