TOP TIPS: China simplifies tax rules for FX remittance
Starting September 1, China’s authorities on FX and taxation will roll out a new record-filing system to simplify tax compliance for outbound remittances.
New Rule: Notice 40
Announcement date: July 9, 2013
Effective date: September 1, 2013
Regulatory bodies: China’s State Administration of Foreign Exchange (Safe) and State Administration of Taxation (SAT)
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