英媒质疑：税负不足0.5%，合理吗？ Shein在英国的税收争议，精准撞上了当地财政的"紧日子"。受通胀高企、经济增速放缓影响，英国财政部2024年财报显示，全年税收缺口大，打 击跨国企业避税已成为朝野共识。就在这样的背景下，Shein的纳税数据与经营规模的悬殊对比，瞬间引爆了舆论。 据英国公司注册局公开的账目显示，Shein英国分公司2024年销售额同比飙升33%，达到20亿英镑，成为英国市场增长最快的快时尚品牌。但与之 形成鲜明反差的是，其当年仅缴纳960万英镑公司税，税负率不足0.5%。表面看，这笔税款占其申报的3820万英镑税前利润的25%，恰好符合英国 现行公司税率标准，似乎无可指摘。 但公平税收基金会的深度拆解，揭开了数据背后的猫腻。该机构研究发现，Shein英国分公司将84%的销售额以"采购成本"名义，通过关联交易转 移至新加坡母公司Roadget集团。这意味着，英国市场产生的绝大部分收入可能被直接划转至海外，仅留下极少部分利润在当地缴税。公平税收基 金会首席执行官保罗・莫纳汉直言，这不是简单的商业交易，而是典型的利润转移操作，也与十多年前亚马逊、苹果将欧洲利润转移避税套路如 出一辙，成了税收监 ...

税收园区，税收政策，详情了解公众：智税宝宝 如果您是自由设计师、独立顾问、网红博主、软件开发者，或是一家小规模的工作室主理人，想必对这 个场景绝不陌生： 二、 它如何为你创造巨大价值？ 关键在于大幅降低所得税。 我们来算一笔账： 假设您的个体户年收入为 200万元，税务机关核定的所得税率为 "0.5%"。 辛苦一年，业务不错，收入蹭蹭往上涨，眼看银行卡里的数字突破百万，心里先是窃喜，随即而来的却 是焦虑——"这么多钱，怎么提出来？得交多少税啊？" 传统的做法要么是按"劳务报酬"缴纳高额个税（最高40%），要么是注册公司面临25%的企业所得税和 20%分红税的双重压力。到头来，辛苦赚的钱，一大半都交了税。 一、 什么是"核定征收"？ 简单来说，这是税务机关针对账目不全、难以准确核算成本的小规模纳税人，采用的一种简化征管方 式。它会根据您的行业特点，直接核定一个所得税率（例如0.5%），然后用这个核定的税率来计税， 而不是要求您提供每一笔的成本发票。 您可能会问："这合法吗？安全吗？" 1. 这200万收入按0.5%核定税率计税，经过计算，个人所得税约为 1万元。 2. 加上目前优惠的增值税（1%）和少量附加税， ...

普华永道发布观点称，企业出海需要系统把握五大核心环节：一是研究与选址，综合评估宏观环境、营 商环境、物流、供应链、成本、人力、政策及产业生态，关注财税优惠及外汇管制，科学预测风险与回 报，确保决策可行；二是投融资规划，聚焦利润回流实际税率、境外税收抵免及架构重组，明确税收协 定适用要求，统筹融资税务影响，保障合规高效；三是运营设计，涵盖销售布局、关税与原产地分析、 研发与无形资产安排、本地服务及常设机构风险管理，通过精细化运营平台和转让定价提升资金安全效 率；四是落地实施，完成公司设立、ODI申请、关联交易定价、人员派遣与绩效激励，履行财、税、 数、法合规义务，适时申请税收优惠；五是税务合规管理，建立全球税务体系，制定税制手册，依托专 业合规申报和风控服务，保障全球税务合规。 分享会上，普华永道中国南部税务市场主管合伙人王舜宜解读了多个热门投资地的税收政策、优惠措施 及潜在风险。王舜宜认为企业需关注当地政策、法律及文化差异，并建议出海前全面调研评估，制定针 对性策略，加强本地合作。 在第二十五届中国国际投资贸易洽谈会(投洽会)期间，普华永道举办了"出海热门国家投资环境洞察与 税务筹划实务"专题分享会，旨在助力 ...

Core Insights - The report by Hurun Research Institute reveals a decline in the number of high-net-worth families in China, with a total of 2.066 million households having net assets exceeding 10 million RMB as of the end of 2024, marking a 0.8% decrease year-on-year and the second consecutive year of decline [1] - The threshold for wealthy families is set at 6 million RMB, with this group decreasing to 5.128 million households, a 0.3% drop year-on-year [3] - The number of ultra-high-net-worth families, defined as those with assets exceeding 100 million RMB, has fallen to 130,000, a decrease of 1.7% [3] Wealth Composition and Market Impact - Approximately 70% of Chinese household assets are tied up in real estate, making wealth highly sensitive to property market fluctuations [6] - The average price of second-hand homes in 100 cities has seen a cumulative decline of over 10% in the past two years, affecting household net worth significantly [6] - A hypothetical example illustrates that a property valued at 10 million RMB with a 5 million RMB mortgage results in a net asset of only 5 million RMB, which could decrease by 1 million RMB with a further 10% drop in property value [6] External Factors Influencing Wealth - International trade tensions are identified as another significant factor contributing to wealth erosion, with nearly 60% of high-net-worth individuals having backgrounds in manufacturing or foreign trade, leading to reduced corporate profits and impacting household balance sheets [8] Comparative Analysis - In comparison to the U.S., where approximately 8% of households have net assets exceeding 1 million USD, only about 1% of Chinese households have net assets over 6 million RMB, indicating a lower proportion of wealthy families relative to the population size [9] Future Outlook - The report forecasts that if real estate policies continue to relax, the number of high-net-worth families may stabilize by 2025, but it is unlikely to return to the peak levels seen in 2022 [10] - The focus of wealth management is shifting from "incremental competition" to "stock preservation," emphasizing the importance of global asset allocation, tax planning, and family inheritance strategies [10]

Core Viewpoint - The article discusses the complex overseas asset management and inheritance issues faced by the Wahaha family, particularly focusing on the late founder Zong Qinghou's extensive international investments and the ensuing legal battles over his estate [3][8]. Group 1: Overseas Asset Management - Zong Qinghou's overseas asset layout began as early as the 1990s, with a significant focus on the U.S. real estate market, including a mansion purchased for $25 million in Los Angeles [5][8]. - The family's overseas assets are estimated to exceed 15 billion RMB, including properties in the U.S. and Hong Kong, as well as stakes in various offshore companies [20][19]. - The article outlines three main pathways through which Zong Qinghou's family managed to move funds abroad: obtaining green cards in the 1990s, leveraging disputes with Danone for financial maneuvering, and utilizing offshore structures to facilitate asset acquisition [21][24][26]. Group 2: Taxation and Legal Challenges - The article highlights the tax implications of Zong Qinghou's estate, particularly the potential 40% tax burden on his heirs due to U.S. tax laws regarding "covered expatriates" [39][41]. - Zong Qinghou's estate planning strategies, including the use of offshore trusts, are scrutinized for their effectiveness in light of changing tax regulations and the risk of significant tax liabilities upon his death [54][56]. - The article emphasizes the importance of compliance in cross-border asset management, noting that the global exchange of tax information under CRS could impact individuals with overseas assets [48][53].

Core Insights - Increasing number of Chinese companies are focusing on the Middle East, with Dubai emerging as a key destination due to its favorable policies, flexible tax system, and excellent business environment [2] - Successful Chinese enterprises in Dubai have shared their experiences and strategies, providing a reference for others looking to enter the market [2] Group 1: Choosing Dubai Free Trade Zones - Dubai is a major destination for foreign direct investment in the Arab region, with SMEs contributing 63.5% of UAE's GDP and accounting for 95% of registered companies, making it suitable for Chinese SMEs and startups [3] - Companies can establish themselves in Dubai through three main forms: traditional economic department companies, free zone companies, and offshore companies, with free zone companies offering various advantages [3] - IFZA, part of Dubai Silicon Oasis, has over 400 Chinese companies registered, with the most common business types being investment, general trade, and IT services [3] Group 2: Trends of Chinese Enterprises in Dubai - The core industries in the UAE remain trade and investment, but there has been a significant increase in AI, new energy, and high-tech companies recently [4] - The types of companies entering the market have shifted from primarily SMEs pre-pandemic to a notable increase in mid-sized and large enterprises, especially in the tech sector [4] - The motivation for expansion has evolved from merely seeking new markets to building a global brand and reducing reliance on single markets [4] Group 3: Considerations for Entering Dubai - Compliance is the primary concern for companies considering entry into UAE free trade zones, necessitating an assessment of industry compatibility and legal evaluations [5] - The advantages of free trade zones include duty-free import/export within the zone, a corporate tax rate of only 9%, and the ability for 100% foreign ownership without local partners [6] - Efficient administrative services in free trade zones, such as online company registration and shared office spaces, help reduce operational costs [6] Group 4: Post-Entry Considerations - After establishing a presence in Dubai, companies must prioritize tax compliance, including registering for corporate tax numbers within three months to avoid penalties [7][8] - Companies must ensure financial practices align with UAE international accounting standards, requiring the use of AED or USD for accounting [7] - Unique requirements in the UAE, such as anti-money laundering investigations and regular updates of client information, must be adhered to [8] Group 5: Opportunities and Strategies in Dubai - When structuring companies in the UAE, businesses should consider risk isolation and tax planning, with simpler structures being more favorable for banking relationships [9] - Mid-sized companies can find opportunities in technology alliances and industrial parks, such as the Jiangsu Industrial Park in Abu Dhabi, which offers valuable insights and resources [9] - The consumer market in the Middle East, particularly among the 25-35 age group, shows strong purchasing power for innovative products, indicating potential for growth in creative sectors [10]

Core Viewpoint - Huaxi Biological is facing serious allegations of financial misconduct, including accusations of financial fraud and inflated revenue figures, which have led to a significant decline in its stock price and raised concerns about its governance and internal conflicts [3][4][29]. Group 1: Allegations and Responses - A former employee, David, has accused Huaxi Biological's controlling shareholder, Huaxi Xinyu Investment Co., of concealing shareholdings and committing fraud related to bond issuance and revenue inflation [3][4]. - Huaxi Biological has publicly responded, stating that David was previously a market director who committed fraud and was reported for embezzlement [3][24]. - The company claims that David's allegations were investigated during its IPO process in 2019 and were found to be unsubstantiated [3][29]. Group 2: Financial Data Discrepancies - Significant discrepancies in financial data have been highlighted, with David pointing out that the revenue for the first half of 2017 was reported at 278 million RMB, which was 91 times the total revenue for the entire year [11][14]. - The company's financial reports show a dramatic increase in operating income and expenses in 2017, followed by a sharp decline in the annual report, raising red flags about the accuracy of the financial statements [12][20]. - David alleges that the inflated figures were linked to profits from the sale of shares in Jinju Holdings, which were then misclassified as operational costs to reduce tax liabilities [14][16]. Group 3: Internal Conflicts and Governance Issues - Huaxi Biological has faced multiple internal disputes, including allegations of stock buybacks at undervalued prices and conflicts among founding members regarding profit-sharing [34][36]. - The company has been criticized for its governance practices, with frequent reports of employee grievances and accusations of workplace bullying [34][36]. - Recent financial performance has shown a decline, with a reported 11.6% drop in revenue and a 70.6% decrease in net profit for 2024, indicating potential underlying issues within the company [34][36].

Core Viewpoint - The new VAT law in China, effective from January 1, 2026, emphasizes "data-driven taxation" and introduces significant adjustments in areas such as cross-regional goods transfer, electronic invoice management, and tax incentives for businesses [1][12]. Group 1: Contract Design for Tax Optimization - Clearly define tax incentive applicability within contract terms [1]. - Utilize commercial discounts and allowances in contracts to optimize tax liabilities [4]. - Choose suppliers who can issue VAT special invoices to ensure input tax deductions [4]. - Specify sales methods and tax obligation timing in contracts to manage cash flow and tax reporting effectively [3][5]. Group 2: Tax Rate Management and Compliance - Separate taxable items with different tax rates in contracts to avoid higher tax rates due to mixed sales [10]. - For export businesses, include export tax refund clauses in contracts to comply with tax refund policies [10]. - Ensure related party transactions adhere to independent transaction principles to prevent tax adjustments by authorities [10]. Group 3: Case Studies on Tax Strategy - Case Study 1: Company A, a manufacturer, reduced its overall tax burden by 15% through optimized supply chain management and fixed asset investments, improving production efficiency by 10% [11]. - Case Study 2: Company B, a retail chain, transitioned to general taxpayer status, resulting in an 8% reduction in actual tax burden while maintaining market share through pricing strategies and promotions [11]. Group 4: Practical Insights from the New VAT Law - The course on the new VAT law covers legislative principles, tax rate adjustments, and practical implications for businesses, including case studies from various industries [12][30].

Core Viewpoint - By 2025, going overseas has become a "must-answer question" for most domestic companies, as overseas markets are significantly larger than domestic ones. However, the risks and difficulties associated with going overseas are greater than expected, with a success rate of less than 20% [1]. Group 1: Overview of the Guide - The "China Enterprises Going Overseas Guide" consists of 332 pages and 155,000 words, covering nine chapters that comprehensively outline practical points for enterprises going overseas from various perspectives, including overseas layout, regulatory requirements, equity structure, approval processes, transaction documents, compliance risks, tax considerations, and regional country specifics [2]. Group 2: Key Processes and Structures - Chapter 2 emphasizes the importance of constructing a reasonable overseas equity structure as a key step for successful overseas expansion, providing diagrams to illustrate how companies should set up their overseas equity structures [8]. - Chapter 3 details the approval processes for overseas investment, including the need for companies to apply for record-keeping or approval from the National Development and Reform Commission and the Ministry of Commerce, as well as completing foreign exchange registration [12][14]. Group 3: Transaction Structures and Agreements - Chapter 5 focuses on transaction structure arrangements and key agreements involved in overseas investment, such as investment agreements and letters of intent, analyzing critical clauses within these agreements [20][23]. Group 4: Compliance Management - Chapter 7 outlines the current compliance status for enterprises going overseas and essential compliance guidelines, suggesting a six-step approach to build a compliance management framework that integrates compliance systems into business processes [25][26]. Group 5: Popular Destinations and Market Insights - Chapter 9 shares methods for collecting country-specific information and outlines the basic conditions, import and export structures, important international agreements, legal systems, and foreign investment policies of five popular countries, including the UAE, which is highlighted for its strategic location and favorable investment environment [29][30][31].

Core Insights - The course emphasizes the importance of financial literacy for modern managers, highlighting that understanding financial statements and data-driven decision-making is essential for business survival and growth [3][4][5]. Financial Concepts - The course covers basic financial accounting concepts and their significance in business management, aiming to enhance the financial awareness of mid-to-senior level managers [4]. - Participants will learn the fundamental logic of the balance sheet, income statement, and cash flow statement, enabling effective decision-making through financial analysis [5]. Tax Planning - The course will address the starting point of corporate tax planning, focusing on the calculation logic of value-added tax and its impact on cash flow [6]. Corporate Governance - An understanding of the basic structure of corporate governance will be provided, along with insights into internal controls and auditing, and their role in promoting business operations [7]. Strategic Financial Management - The course will explore the connection between planning, budgeting, forecasting, financial strategy, and corporate goals, equipping participants with methods for value creation [8]. Practical Application - The training includes real-world case studies to address various financial issues encountered during corporate transformation and upgrading, combining theoretical knowledge with practical application [9][12]. Course Structure - The course spans two days, combining 50% theoretical content with 50% practical training, totaling 12 hours [12]. - It will include discussions on financial accounting's basic assumptions, the relationship between the three financial statements, and the implications of financial data [17]. Risk Management - The course will cover the management of corporate risks and the relationship between risk management and value creation, including the interpretation of the COSO framework [15][17]. Budgeting and Forecasting - Participants will learn about the management logic of budgeting, including variance analysis between budgeted and actual figures, and tools for budget forecasting [16][17].