News

At the beginning of this week, the Ministry of Finance confirmed that China will increase export tax rebates on almost 1,500 products from March 20th, as the government looks to ease the pressure on companies hit hard by the coronavirus outbreak. As many as 1,084 products, including porcelain sanitary ware, will have the rebate raised

The tax bureau of Beijing has officially announced that it will start implementing blockchain invoicing within the city from March 2nd. The Government hopes blockchain invoicing can bring more transparency to taxpayers. The idea is to bring blockchain’s unique transparency, traceability and immutability to future governance with the usage of blockchain invoicing. The official announcement

The new coronavirus, Covid-19, may end up putting a serious dent on China’s nearly 30-year role as the world’s leading manufacturer. China’s economy is getting hit much harder by the coronavirus outbreak than markets currently recognize. Wall Street appeared to be the last to realize this last week as the S&P 500 fell over 8%,

At this point everyone should know about the novel coronavirus epidemic that has been weighing heavy over China, and in certain areas throughout the rest of the world. The outbreak which began in late December 2019 has become widely known to the public from early January 2020. While the worst of the epidemic seems to

The trade war is a very hot topic that many people have been discussing for over a year now but how much do we all really know about it? The latest news is that on Wednesday January 15, 2020, the first agreement was reached between the United States and China on their prolonged trade war.

China’s Central Bank recently confirmed to cut the amount of cash that all banks must hold as reserves, releasing around 800 billion yuan ($114.91 billion) in funds in order to shore up the slowing economy. The People’s Bank of China (PBOC) stated on its website that it will cut the reserve requirement ratio on banks

If you are familiar with the Chinese business world, you have at least heard of the Fapiao. Fapiao translates directly to “invoice”. However, simply translating the term is not enough. Fapiaos are a little more complex than simple invoices and there are also different types which are available. What many may not realize is that

Among the many different ways to invest your hard-earned money, the good old “brick”, as we say in Italian, can be a sensible choice. China might not be the best place to invest in real estate, since it is not possible to receive any special rights along with your purchase, such as in Thailand for

The Chinese government has already cut more than 1.5 trillion yuan ($213.1 billion) in taxes during the first three quarters of this year, amid substantial reductions in value-added tax (VAT) and individual income tax. The government has reduced the tax burden on businesses by 703.5 billion yuan in this period through VAT reform. Individual taxpayers

The Corporate Social Credit System (SCS) is the Chinese Government’s comprehensive vision of using advanced technologies to monitor and steer market participants. The plan was outlined first in 2014 and has been progressively implemented since then. The deadline for final implementation will be in 2020, but it is likely that the SCS will continue to

Getting money out of China is a question that frequently arises as many expatriates working in China save up their hard-earned Renminbi (RMB), at a certain point they will want to take their savings back to their home country. For all those expats legitimately employed in China and paying taxes, this will not be a

After several years of expat life, are you thinking of moving back to Italy? If so, now might be the right time to do so, thanks to new incentives that are to be brought in by decree No. 34 of 2019. The new regulation will take effect from 2020, and it will increase the tax