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the final settlements and payments of iit for the year 2020 will be concluded soon. this year, the whole process has been further simplified. if you are still not clear about the iit settlement, check our article to know more! 

on feb 8, 2020, china’s state taxation administration (sta) released the announcement of the final settlements and payments of individual income tax on the annual comprehensive income in 2020. 

 

 

taxpayers need to calculate their annual iit payable, then deduct their prepayment to get the annual amount of the tax refund or payment and make a declaration to the authorities. 

 

to know more about the individual income tax, please check our previous articles  

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what’s iit settlement? 

 

according to the announcement, taxpayers are required to make a settlement during the period between march 1 and june 30. 

 

they need to calculate their annual iit payable, then deduct their prepayment to get the annual amount of the tax refund or payment and make a declaration to the authorities. 

 

in other words, if your iit prepayment exceeds your actual iit payable for the whole year, you can get a refund; otherwise, you need to pay the unpaid tax to settle. 

 

© image | google

 

should i settle? 

 

generally, all taxpayers are required to make the settlement as long as their prepayment is not equal to their tax payable. 

 

however, the government has issued a list of exemptions. those who meet any of the following conditions don’t need to settle to lower the tax burden: 

 

• need to pay the tax but the annual comprehensive income is less than 120,000 yuan; 
• need to pay the tax but the tax payable is less than 400 yuan; 
• the prepayment is equal to the annual tax payable, or you don’t apply for the refund. 

 

how to calculate? 

 

well first, you need to get clear your annual comprehensive income, including: 

 

• employment income 
• remuneration for personal services 
• author’s remuneration 
• royalties

then deduct the standard basic deduction (60,000 yuan), specific deductions, additional deductions, and charitable contributions to get the taxable income. 

 

 

after the multiplication by an applicable tax rate and deduction of the quick deduction, you’ll get the annual iit payable. 

 

© image | china-briefing

the tax refund or the tax payment is the difference between your annual tax payable and the tax prepayment. 

 

 

when to do it? 

 

taxpayers need to make the annual settlement for 2020 during the period between march 1 and june 30, 2021. 

 

for those who have no domicile in china and will leave the country before march 1, 2021, they can settle the tax before departure.

 

what if i don’t do it? 

 

as we said above, the settlement makes you pay the individual income tax your actually need to pay. 

 

if you fail to make a tax settlement while you’re required, apparently, that’s tax evasion. and your tax credit will be affected. 

 

in serious cases, violators are not allowed to leave china, and get fined even go to jail. 

 

related article:  

 

if you have any questions about doing business or tax payments in china, please feel free to contact hacos! 

in order to help you reach the latest update on the global pandemic situation, hacos has set a quick link on the menu of our wechat page. follow us, you can check it whenever you want! 

 

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source | shanghai administration of foreign experts affairs

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as there’re more and more overseas people doing business in guangdong, the authorities have launched a new tax platform for them and facilitate tax payment. taxpayers can easily pay taxes with overseas unionpay credit cards. 

now non-resident taxpayers holding overseas unionpay credit cards can easily pay taxes online around the world! 

 

on march 31, 2021, guangzhou branch, the people’s bank of china and guangdong provincial tax bureau have jointly issued the operation procedures for cross-border rmb electronic tax payment into treasury with unionpay (trial scheme). 

 

under the new measures, overseas taxpayers no longer need to fly to china, go to the tax service office or bank, or open a chinese bank account. they can make tax declarations and payments online.

 

how to pay? 

 

there are two methods of paying taxes: 

• online payment with unionpay 

• mobile payment with unionpay mobile quickpass 

 

the whole process is similar to online shopping because you can check your payables and make an instant payment via the app. it is very convenient and the total processing time is just 5 minutes.  

 

here are the procedures of paying taxes in these two methods.

 

online payment with union pay 

1. file tax declaration return through e-tax bureau or v-tax remote self-service platform;
   
2. enter the “tax settlement” page;
   
3. click “pay immediately”; 
4. choose “online payment with unionpay”; 
5. check and confirm tax amount and other information; 
6. pay taxes by entering unionpay account number and password 

 

please be noted that the amount of tax payment cannot exceed the limit of your credit card. 

 

online payment with mobile quickpass 

 

1. install the app “unionpay mobile quickpass”;
   
2. file tax declaration return through v-tax remoted self-service platform;
   
3. enter the “tax settlement” page;
   
4. click “pay immediately”; 
5. choose “payment with mobile quickpass”; 
6. scan the qr code that v-tax platform send to taxpayers; 
7. check and confirm the info and pay. 

how to get payment certificate? 

 

after your payment, you can print out your tax payment certificate on e-tax bureau or v-tax remote self-service platform. 

 

according to the guangzhou branch of pbc, the regulations apply to the cross-border rmb electronic tax payment into treasury with unionpay in guangdong province (excluding shenzhen). 

 

guangdong is the first place to launch the trials. it is expected to see the pilot program expand to more provinces and cities! 

we will keep following the preferential policies on taxation and other issues. stay tuned! 

 

if you have any questions about doing business in china, please feel free to contact hacos! 

in order to help you reach the latest update on the global pandemic situation, hacos has set a quick link on the menu of our wechat page. follow us, you can check it whenever you want! 

 

share to let your friends know!

source | 广州税务 / sta / xinhua

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it is reported that some airlines in china issued notices requiring passengers traveling from guangdong to present negative report of nucleic acid test and record of at least one dose of covid-19 vaccine. will vaccination be a basic requirement for more and more air passengers? 

on wednesday, posts and pictures circulated online claimed china southern airlines and hainan airlines required passengers traveling from shenzhen to beijing to present two materials, including: 

• negative nat report issued within 48 hours 

• record of at least one dose of covid-19 vaccine

 

△ a screenshot of hainan airlines’ official website about the requirements. 

 

△ a screenshot of china southern airlines’ notice on the requirement

 

besides, shenzhen airlines and china air have issued similar notices, according to caixin.

 

the requirement was later withdrawn for unknown reasons. however, some experts have said the requirement for vaccination of passengers will become a trend in the long run and the withdrawal could be due to “technical problems.” 

 

△ a screenshot of china southern airlines’ notice on the suspension of the vaccination requirement

 

according to the global times, staff members from the shenzhen office of china southern airlines confirmed that they issued the notice after guangdong tightened epidemic prevention and control measures. 

 

guangdong authorities on wednesday reportedly had required the airlines to enforce the “highest standards” on epidemic prevention and control policy. 

 

so the airlines launch the measure by verifying the vaccination status of passengers before boarding from shenzhen to beijing, starting thursday. 

 

 

but the airlines later withdrew the notices and suspended the policy following new instructions from local anti-epidemic prevention and control departments, an employee from china southern airlines said. 

the staffer emphasized the notice was only “suspended for now” and new standards are subject to change at any time. thus, they cannot guarantee whether pre-flight vaccinations will be required again in the future. 

 

 

given what we’ve got, vaccination certificate is just a requirement launched by airlines, and it is suspended now. there’s no such requirement of airports.

 

currently, shenzhen bao’an international airport and guangzhou baiyun international airport only required passengers to present green health code and a covid-19 test certificate with a negative result issued within the past 72 hours or 48 hours. 

 

 

so if you’re planning to fly from epidemic-hit guangdong province to other places but have not received vaccines, don’t worry that much. please check the official website of the airport or airlines to get the latest info about current policy.  

 

if you want to know more about taking covid-19 vaccine, you can click the following link to read our previous post about it. (please be noted that guangzhou has suspended the appointment for first dose of covid-19 vaccination  by now) ↓↓↓ 

•  

we will keep following the updates on the latest anti-epidemic measures and travel policies. stay tuned! 

 

if you have any questions about living in china, please feel free to contact hacos! 

in order to help you reach the latest update on the global pandemic situation, hacos has set a quick link on the menu of our wechat page. follow us, you can check it whenever you want! 

 

share to let your friends know!

source | global times / 网易 / 财新

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关注我的你，是最发财哒！

1、美撤销对tiktok及微信禁令

 

白宫网站9日消息，美国总统拜登当地时间9日签署一道新行政命令，撤销前总统特朗普在任期间对tiktok和wechat的禁令，并要求商务部对外国“对手”控制的应用程序，进行更广泛的安全审查。

 

 

2020年8月6日，时任美国总统特朗普以wechat和tiktok威胁美国国家安全为由，对其颁布禁令。

2、美放宽110多个国家的旅行禁令

 

美国疾病控制与预防中心 (cdc) 放宽了对110多个国家和地区的旅行建议。

 

 

在cdcag真人官网平台app官网上，虽然中国的疫情风险等级评估为最低的“1级”，但14天内到过中国的旅客却仍然被禁止进入美国。

 

3、美针对贸易设定“突击工作组”

 

随着美国政府公布关于美国对半导体、电动汽车电池等关键产品获取情况的审查结果出炉，拜登政府表示，美国将针对中国成立新的“突击工作组”，以打击不公平的贸易行为。

 

谁不知道这是批准全面法案，制裁中国企业！

 

 

美国商务部正在考虑启动232条款调查，以调查用于电机和其他工业应用的进口钕磁铁对国家安全的影响。美国主要从中国进口钕磁铁。

 

不止于此，此前美国总统拜登以“应对中国军工企业威胁”为由签署行政命令，将包括中国船舶工业集团、中船重工海洋工程（集团）、中国航天科技集团有限公司等59家中企列入投资“黑名单”，美东时间8月2日凌晨12时01分起禁止美国人与名单所列公司进行投资交易。

 

 

4、比特币作为法定货币 

 

据美cnbc8日消息，拉美国家萨尔瓦多通过立法，成为全球首个采用比特币作为法定货币的国家。

 

萨尔瓦多总统布克勒（nayib bukele）在社交媒体上宣布，比特币法案凭62/84的“绝对多数”支持票获得通过，“创造历史”。

 

萨尔瓦多国内基本上是现金经济，大约70%的人没有银行账户或者信用卡，国际汇款占该国gdp20%以上。而国际汇款手续费却高达10%甚至更多，且费时费力。

 

 

本次立法说明了比特币和美元之间的汇率“将由市场自由确定”，并且“价格可能以比特币表示”。

 

5、全球粮价飙涨近40% 

 

联合国粮食及农业组织（粮农组织）近日消息，5月份全球食品价格上涨速度惊人，5月指数比4月上涨4.8%，同比激增近40%，为十多年来最快增速。

 

 

随着粮价的大涨，新兴市场多国通胀已经来到令人堪忧的水平，阿根廷今年头两个月的通胀率均达到8%，尼日利亚2月食品通胀率同比增长21.79%，创下15年来的最高水平。

 

此外，由于新冠疫情导致的出行限制，从事田间劳动的外籍工人在很多国家出现短缺。目前随着疫苗的普及，粮食需求超预期快速复苏，生产跟不上需求，价格估计还会持续上涨。

 

6、外贸企业“一箱难求” 

 

受到疫情和苏伊士运河堵船事件影响，从去年开始，全球航运业持续面临着一箱难求的局面，集装箱运价综合指数连创历史新高，目前已达到了2216.63点，为疫情之前的三四倍。

 

 

亚洲各大港口运输繁忙，却时常受“缺箱”“少柜”困扰，集装箱价格飞涨，一些海运航线上涨近10倍，仍然是“一箱难求”。

 

7、盐田港：6月10日起接收eta-7天出口重柜进闸 

 

 

8、南沙码头双向恢复正常 

 

因盐田港拥堵，大量出口商转战南沙，导致南沙港进入拥堵。在经过多方的协调后，昨日，进出南沙码头已双向恢复正常。

 

对外，货车司机现在可以正常进出/交重柜/提柜；对内，南沙码头内部作业正常。不过，南沙龙穴岛依旧塞车。