China Simplifies Tax Filing Requirements for International Payments for Trade in Services
16 July 2021
On 29 June, the State Taxation Administration (STA) and the State Administration of Foreign Exchange jointly announced that domestic institutions and individuals wishing to make multiple international payments under the same contract only need to go through taxation record-filing once. Moreover, foreign investors who use the income from their direct investments in China to re-invest in the country are exempt from taxation record-filing.
Applicants seeking to file records may visit the STA’s website and complete the relevant section for international payments for trade in services. These measures took effect from 29 June.
Source: State Taxation Administration
- Mainland China