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Full-Text Articles in Law
The Chinese Enterprise Income Tax, Wei Cui
The Chinese Enterprise Income Tax, Wei Cui
All Faculty Publications
China’s Enterprise Income Tax (EIT) is the world’s largest corporate income tax by revenue, contributes a significant share to China’s total tax revenue, and is clearly the most substantial component of capital taxation in China. Yet scholarly research on the EIT is still limited. This overview chapter outlines the EIT’s main components from a legal perspective, while referring to empirical economic and accounting research that sheds light on these components. It discusses the personal scope of the EIT, so as to identify the significance of the pass-through and the tax-exempt sectors relative to the taxable corporate sector. It then examines …
What Does China Want From International Tax Reform?, Wei Cui
What Does China Want From International Tax Reform?, Wei Cui
All Faculty Publications
In this article, the author examines China’s possible response to recent global efforts to reach consensus on international tax reform — particularly, a minimum corporate tax rate.
How Well-Targeted Are Payroll Tax Cuts As A Response To Covid-19? Evidence From China, Wei Cui, Jeffrey Hicks, Max Norton
How Well-Targeted Are Payroll Tax Cuts As A Response To Covid-19? Evidence From China, Wei Cui, Jeffrey Hicks, Max Norton
All Faculty Publications
Numerous countries cut payroll taxes in response to economic downturns caused by COVID-19. This includes China, which completely exempted most firms from making social insurance (SI) contributions, resulting in an average tax cut of 21 percentage points on formal labor costs and approximately 20% of total tax remittances made by firms. We use novel data on 900,000 firms in one Chinese province to document new facts about the structure of SI in China and evaluate payroll tax cuts as a COVID-19 relief measure. We calculate that labor informality causes 54% of tax-registered firms---representing 24% of aggregate economic activity---to receive no …
The China-United Kingdom Income Tax Treaty (2011), Wei Cui
The China-United Kingdom Income Tax Treaty (2011), Wei Cui
All Faculty Publications
The author, in this article, considers some of the key features of the China-United Kingdom Income Tax Treaty (2011), with particular reference to the provisions on technical fees, permanent establishments, passive and other income, and anti-avoidance rules.
Two Paths For Developing Anti-Avoidance Rules, Wei Cui
Two Paths For Developing Anti-Avoidance Rules, Wei Cui
All Faculty Publications
The author discusses the administration of anti-avoidance rules in China, and puts forth the argument that anti-avoidance rules are being applied in China not only in the absence of the rule of law, but also parallel to the rule of law. He suggests that Chinese taxpayers and tax administrators collectively have the choice of pursuing discussions about the boundary between legitimate and illegitimate tax planning along two paths the rule of law figures as an important norm, while in the other it t, and he discusses how each works in China.
China: A New (Furtive) Approach To Taxing International Transportation Income, Wei Cui
China: A New (Furtive) Approach To Taxing International Transportation Income, Wei Cui
All Faculty Publications
Donghwa Industrial Corporation v. Weihai Huancui State Tax Bureau: China's New (Furtive) Approach to Taxing International Transportation Income
Tax Classification Of Foreign Entities In China: The Current State Of Play, Wei Cui
Tax Classification Of Foreign Entities In China: The Current State Of Play, Wei Cui
All Faculty Publications
This article considers recent changes to the classification of foreign entities under Chinese tax law, the implications for China’s treaty partners in this regard and the general legal framework within which future changes may occur.
Designing Foreign Tax Credit Rules In China: The Case Of Foreign Loss Limitations, Wei Cui
Designing Foreign Tax Credit Rules In China: The Case Of Foreign Loss Limitations, Wei Cui
All Faculty Publications
Over the last few years, China’s large trade surplus against other countries, as well as its high domestic savings rate even relative to its high investment rate, have resulted in a very substantial foreign currency reserve that puts the country in the position of a significant capital exporter. The huge amount of foreign currency assets held by the Chinese government— near $1.9 trillion at the end of 2008 — and a breathtaking series of acquisitions made by Chinese firms overseas are now salient items in international business reporting and public discussion. China’s new posture as an exporter of capital has …
Business Tax: China's Quasi-Vat, Wei Cui
Business Tax: China's Quasi-Vat, Wei Cui
All Faculty Publications
On 1 January 2009, new VAT rules entered into force in China. Under these rules, all registered businesses are entitled to recover VAT on the purchase of capital assets other than immovable property. The Chinese VAT system does however not yet cover services and transactions concerning immovable property, which are still subject to the all-stage, cumulative business tax. In this article, the author explains that the process of gradual transformation of the business tax into a VAT has started and that the current business tax should already be seen as a quasi-VAT.
China's New Personal Income Tax Return Filing Regime, Wei Cui
China's New Personal Income Tax Return Filing Regime, Wei Cui
All Faculty Publications
In December 2005, as newly authorized under the amended Personal Income Tax Law (PITL), China’s State Council announced that taxpayers with annual income in excess of RMB 120,000 (US$15,000) would be required to file annual tax re-turns.The task of designing the procedures for the new return filing requirement was delegated to the State Administration of Taxation (SAT). On November 6, 2006, 11 months after the new return filing requirement was announced, and less than two months before the first filing season was to begin,the SAT finally issued a set of rules on filing procedures, including a new sample annual tax …