China Administration of Taxation recently promulgated a Circular (Guoshuifa 2009 No 3) (“hereinafter referred to as “The Circular”) to strengthen the control of Non-TRE Income Tax Resourcing Deduction. The below mentioned enterprises shall be regarded as Chinese Tax Resident Enterprise (TRE):
a. An enterprise which is established and…
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By Shaun Rein
COFIDIS, is a leader in the European consumer finance industry. It was founded in France in 1982 and operates in 10 countries. COFIDIS is one of the most profitable actors in the consumer finance industry with an average Return On Equity above 20% for the past 5 years and holds a portfolio of 8 billion € in consumer loans. COFIDIS operates via a unique business model of selling and managing consumer finance products from distance. COFIDIS has a recognised expertise in consumer credit risk management.
COFIDIS has charged Pascal Nouvellon, Deputy Chief Representative for China, to lead a team that manages the strategic direction for COFIDIS, including product development and marketing programs to drive growth in China. Read the rest of “China’s Credit Card Market: Interview with Pascal Nouvellon, Cofidis Pt1″ or post a comment
Over the past few months, we have witnessed the most concerted global effort in history to bail out the world economy. However in the process, more questions have been raised than answered. The impact of what started out as the subprime crisis has left many market watchers floundering in uncharted waters.
One of the biggest concerns is if we are in for a global…
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My first job out of university was based in San Francisco, and one of the largest things I managed was the APAC accounts receivable. It was in the beginning a frustrating process as I was essentially making collection calls to get people to send their checks, and I felt a little bit like a repo man.
However, after 9 months I had essentially worked out a system. I had learned all the little tricks people play and begun to develop process surrounding that.
For one client it mean literally photocopying the catalog of items they had ordered and making sure the pages were in the same order as the items were listed on the invoice. Not sure why an accountant needed it, but once they used that as an excuse for paying 30 days late, I made sure that future invoices were sent with the documents as a proactive measure – and it worked. Read the rest of “Managing Your Receivables in China” or post a comment
By Salina Leong
The process of registering a business in China is considered complete only after capital injection and verification. Below are the two options of capital injection that companies can choose from:
1. Full injection within six months from the issuance of the business license.
2. Or 15% to 20% injection within 3 months from receiving the business license, and the remaining over 2 years.
Several types of assets are acceptable as part of the capital injection, including a minimum cash value equivalent to 30% of the registered capital, fixed assets, intellectual property such as copyrights, land-use rights and shares in another company or objects with monetary value. Read the rest of “Capital Injection Requirements in China” or post a comment
