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Insights

CW CPA Professional Insights on China and Cross-Border Business

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Demonstration Zone in Nansha of Guangzhou for All-round Cooperation Among Guangdong, Hong Kong and Macao (GBA)

Nansha, a strategically located district in Guangzhou, China, has emerged as a dynamic hub for innovation and cooperation, particularly within the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). Designated as the Demonstration Zone in Nansha of Guangzhou for All-round Cooperation Among Guangdong, Hong Kong and Macao, the district is fostering a vibrant ecosystem for businesses, industries, and talents from across the region. This article offers an overview of the Nansha Plan, highlighting the advantageous policies within the Nansha Cooperation Zone and showcasing examples of successful foreign enterprises that have thrived in this area.

Your Guide to Hiring Employees Locally in China

Are you seeking to expand your operations into China? China’s labour market is evolving rapidly. Understanding its dynamics is crucial to ensuring success in recruiting and retaining the right talent. This article will walk you through the important aspects of the hiring process in China. Topics covered include methods to hire local employees, employment contracts, and other compliance considerations.  

What are Fapiao Invoices in China?

In China, fapiaos (meaning invoices) play a pivotal role in everyday business transactions and taxation. Unlike invoices or receipts typically used elsewhere, fapiaos have several functions. These official invoices serve not only as proof of purchase and sale of goods and services but also as a vital component in tax compliance. Due to the distinctiveness of the fapiao system, many foreign businesses establishing operations in China encounter challenges when navigating it.

Hong Kong’s Foreign-Sourced Income Exemption Regime: New Draft Legislation Expands Scope to Include Asset Disposal Gains

On 13 October 2023, the Inland Revenue (Amendment) (Taxation on Foreign-sourced Disposal Gains) Bill 2023 was gazetted to further refine the foreign-sourced income exemption (“FSIE”) regime, expanding the scope of disposal gains to include gains derived from the disposal of all kinds of assets, including movable and immovable property. Subject to the approval by the Legislative Council, the refined FSIE regime is expected to come into force on 1 January 2024.

Hong Kong Introduces Bill on Tax Certainty Enhancement Scheme for Onshore Equity Disposal Gains

On 20 October 2023, the Inland Revenue (Amendment) (Disposal Gain by Holder of Qualifying Equity Interests) Bill 2023 (“Bill”) was published. It was introduced in Hong Kong’s Legislative Council on 1 November. The Bill introduces a tax certainty enhancement scheme for onshore equity disposal gains. This article below will delve into the key features of the new tax certainty enhancement scheme as detailed in the Bill.  

Your Guide to Employee Termination in Hong Kong

Managing employee termination in Hong Kong can be a sensitive and difficult task. This article will provide you with an overview of the key aspects of employee termination in Hong Kong. It covers important topics, such as the legal grounds for termination, notice periods, procedural requirements, and unfair grounds for dismissal.
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