The Modernization of Taxation Administration Enhanced by Technology Innovation: Concept Updates and Path Suggestions

Human society has entered the era of the fourth industrial revolution, and technological innovation has accelerated and integrated with the development of various fields of society. It has significant characteristics such as big data, intelligence and decentralization. Understanding the nature of the characteristics of contemporary technological innovation will help us establish modern tax collection concepts such as tax governance, reducing institutional transaction costs and protecting taxpayers' rights and interests. This paper proposes several paths and suggestions to promote the modernization of tax collection and management through technological innovation from the aspects of creating a commercial transaction bit certificate, implementing a big data strategy, exploring a smart tax declaration system, and establishing a tax co-governance system.

2022-05-06 Wu, Xiaoqiang 　　Cui, Jun

The Global Tax Strategies of Chinese Multinational Enterprises in the "Two-pillar" International Tax Environment

Two-pillar reform scheme for international taxation that is addressing the tax challenges of a digitised economy and thorough prevention of tax base erosion with multinational corporations by G20 and OECD, which has a wide public statement of support from the international community and moving forward on schedule. Global tax compliance for multinational corporations requires compliance with a whole new system of rules. However stances of economies at the same income level towards international tax reform differ markedly despite being mostly consistent, and considerable complexity and uncertainty in the international tax environment. How to find a current way in the new rules and adapt to the new environment and establish a safe and effective global tax strategy that is directly related to the global interests of Chinese multinational enterprises and to the maintenance of China's tax sovereignty in the major adjustment of the international economic order.

2022-03-17 Wu, Xiaoqiang 　　Li, Xiaofan　　Cui, Jun

Tax Analysis and Implementation Suggestion on Infrastructure REITs Structuring with the New Tax Policy

The new policy of Cai Shui 2022 Notice No. 3 is a major institutional innovation for infrastructure REITs in China, which greatly benefits the supply of REITs products and market development. The tax experts of Hargent analyzed the full tax treatment of the five major aspects of infrastructure REITs structuring under the new policy, and proposed operational considerations with service cases and research results.

2022-01-31 Wu, Xiaoqiang 　　Ma, Mingli 　　Wang, Fang

How to Pay Taxes for Investment in Listed Companies of Beijing Stock Exchange?

On 14 November 2021, the Ministry of Finance and the State Administration of Taxation jointly issued the Announcement on the Application of Taxation Policies of the Beijing Stock Exchange (Announcement No. 33 of 2021 by the Ministry of Finance and the State Administration of Taxation), which clarifies the taxation policies applicable to the Beijing Stock Exchange. The taxation policy was clarified.

2021-11-24 Liu, Daping

Tax Related Issues for Signing Contracts

When entering into a contract, enterprises need to consider not only the realisation of the economic business, but also the tax issues and risks involved in the economic business specified in the contract. Don't underestimate the tax risk prevention and control when signing a contract, as taking the small tax risk at the beginning lightly may lead to big problems later. Below, Hargent Xiaobian analyzes the tax issues and risks that should be concerned when signing a contract.

2021-08-19 Xiao, Dongmei

Analysis and Comparison of Different IIT Calculation Methods for Annual Bonus

Annual lump-sum bonuses refer to lump-sum bonuses paid to employees by administrative organs, enterprises and institutions based on their annual economic benefits and comprehensive assessment of their annual work performance, and also include year-end salary increases, annual salary and performance salary paid by units implementing the annual salary system and performance pay scheme based on the assessment. Prior to 31 December 2023, resident individuals may choose to pay individual income tax on their annual lump sum bonuses separately (hereinafter referred to as "separate taxation") or to pay individual income tax on their annual lump sum bonuses by combining them with their comprehensive income for the year (hereinafter referred to as "combining them with their comprehensive income").

2022-01-20 Xiao, Dongmei

Breaking News – OECD Released Global Minimum Tax Model Rules. Hargent International suggested Chinese Multinational Enterprises How to deal with the“Two-pillar" International Tax Reform

On 20 December 2021, the OECD published the Pillar Two model rules for a two-pillar reform of international taxation to help implement a landmark reform of the international tax system that will ensure that multinational enterprises (MNEs) will be subject to a minimum tax rate of 15% from 2023.

2021-12-21 Wu, Xiaoqiang

Key Points of Fiscal and Tax Support Policies for COVID-19 Prevention and Control

The focus is on the policy points of the Ministry of Finance General Administration of Taxation Announcement No. 8 of 2020 (hereinafter referred to as Announcement No. 8), the Ministry of Finance General Administration of Taxation Announcement No. 9 of 2020 (hereinafter referred to as Announcement No. 9), the Ministry of Finance General Administration of Taxation Announcement No. 10 of 2020 (hereinafter referred to as Announcement No. 10) and the Ministry of Finance National Development and Reform Commission Announcement No. 11 of 2020 (hereinafter referred to as Announcement No. 11).

2020-02-10 Sun, Zhihong 　　Ma, Mingli