Daxin CPA joins PKF International
Daxin CPA has joined PKF International Limited (PKFI) as the network’s exclusive Chinese member firm. The firm reported revenue of 540 million yuan in 2009, and is ranked number ten on the list of Top 100 firms by the CICPA.
Foreigners to pay more taxes from December
According to a notification issued by the State Council, from December 1, 2010, foreign-funded enterprises, foreign enterprises and individuals are subjected to urban maintenance and construction tax and educational surtax.
Tax on interest clarified
The State Administration of Taxation has issued a notification stipulating that financial institutions should recognize loans interest (not overdue) as revenue at the due dates; while for overdue loans interest, they should be recognized as revenue at the receiving dates or the dates for which they accounted income.
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