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Corporate Commercial Legal Alert 27 November 2017

Submitted by Firm:
Deacons
Firm Contacts:
Cynthia Chung
Article Type:
Legal Update
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PRC New Rules regarding the source-based withholding of enterprise income tax on non-resident enterprises

The State Administration of Taxation (“SAT”) released the “Public Notice on Issues concerning the Withholding of Corporate Income Tax at Source of Non-resident Enterprises (关于非居民企业所得税源泉扣缴有关问题的公告)”. The 37th announcement of the SAT released in October 2017 (“Announcement 37”), which replaces a series of circulars and provisions of circulars in respect of withholding of Corporate Income Tax (“CIT”) on Non-resident Enterprises (“NREs”), comes into effect on 1 December 2017. We highlight the changes set out by Announcement 37 below.

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