Global FS Tax NewsFlash

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December 2009

Chinese SAT guidance on "Beneficial Ownership" in claiming treaty relief for passive sourced income

There have recently been significant developments affecting foreign financial institutions with operations, or joint ventures in China, as well as asset managers with investments in China. This NewsFlash deals with guidance issued by the Chinese tax authorities on "Beneficial Ownership" in claiming tax treaty benefits for passive income. Under China's tax treaties, the recipient of income must be its beneficial owner, before reduced treaty withholding tax rates can be applied.

To find out more about the new guidance and how this may be relevant to you, please download the Global FS Tax NewsFlash.

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