China Releases Circular to Crack Down on Tax Over-Collection

By Dezan Shira & Associates

Posted: 1st October 2012 09:07

To standardize the law enforcement of tax collection and ensure the thorough implementation of tax policies, China’s State Administration of Taxation (SAT) issued the “Notice on Implementing the Inspection over Tax Collection on Individual Businesses (hereinafter referred to as the ‘Notice’)” on September 3, aiming to crack down on the over-collection of tax nationwide. Key provisions of the Notice can be found below.

Main contents for inspection

According to the Notice, the main contents for inspection include information on the following four aspects:
Administration of tax collection on an individual business
Authorized collection
Compulsory taxation enforcement
Income of the organizations
The inspection consists of self- examination and rectification and key selective inspection, the former shall be completed before October 15, 2012, while the latter will be conducted from November 2012 to December 2012.
 

Dezan Shira & Associates is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia. Since its establishment in 1992, the firm has grown into one of Asia’s most versatile full-service consultancies with operational offices across China, Hong Kong, India, Singapore and Vietnam as well as liaison offices in Italy and the United States.
 
For further details or to contact the firm, please email info@dezshira.com or visit www.dezshira.com

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