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New regulation of issuing Chinese VAT invoice comes to effect

Posted by PTL Group
PTL Group
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on Friday, 04 August 2017
in Business in China

On May 19th, 2017, the China State Administration of Taxation (SAT) published an announcement titled, “Announcement of Matters Regarding the Issuance of Value-added Tax Invoices”.

In this announcement, it states that “from July 1 2017, a corporate purchaser needs to provide a Tax ID when obtaining a general VAT fapiao from a seller. The Tax ID should be on the VAT fapiao. If not, the VAT fapiao will not be seen as a valid tax payment receipt.” This means that corporations should exercise caution when they need issuing VAT fapiao since it appears that the SAT will monitor every corporation’s tax status.

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New Chinese “Green Card”

Posted by PTL Group
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on Wednesday, 05 July 2017
in Business in China

In parallel with its newly implemented work permit system that categorizes foreign employees into 3 classes, China is reforming its permanent residence cards (Green Cards) to ease foreign experts’ lives in China.

The "Foreigner's Permanent Residence Card" will be renamed as the "Foreigner's Permanent Residence Identity Card." Just like the Chinese Identity Cards. The new ID cards will have a chip embedded that will ease the access to several social services in China, such as purchasing train and air tickets, bank transactions and hotel check-ins, etc.

Chinese “Green Card” is generally considered one of the hardest to obtain. Since 2004, when the government introduced this, only around 7,000 green cards have been issued. However, within the previous year the number of card holders has increased dramatically. “In 2016, 1,576 foreigners became new permanent residents of China. That's up 163% from the previous year, according to China's Ministry of Public Security.”

Keep in mind that not every foreign who resides in China is eligible for this card. Applicants must be in a specific tier based upon the visa class ranking system that has recently been implemented by Chinese authorities. This ranking system is based upon expert skills and attributes that they bring to the Chinese labor market. Some recent green card holders include high level business and technology executives, in addition to individuals who have out-performed expectations and brought value to China and Chinese companies.

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China’s Tax Offenders Blacklist System in a nutshell

Posted by PTL Group
PTL Group
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on Wednesday, 05 July 2017
in Business in China

In 2016, the Blacklist system was introduced and implemented as a way of promoting “best practices” for tax recording and reporting among all business activities based in China. The relevant authorities now have the ability to enforce the 18 new disciplinary measures against any business that deem in violation of tax regulations. These new measures include: the restriction of access to governmental funds, the barring of companies leaving China, and the enforced disclosure of relevant information via the National Enterprise Credit Information Publicity System. Additionally, several other penalizing regulations are as follows:[1]

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HR Event Held at Daydayup Beijing

Posted by PTL Group
PTL Group
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on Wednesday, 05 July 2017
in Business in China

May was a busy month for the staff at PTL. In the middle of the month, PTL’s China General Manager, Arie Schreier and Deputy General Manager Shahaf Nave traveled up to Beijing to conduct an HR seminar held by PTL at DayDayUp (DDU), a co-working space. Two of PTL’s clients are internet companies and they are hosted at DayDayUp with the HR and Admin support from PTL Beijing office. We realize that most newly founded companies found recruitment and HR management quite daunting and the rules are very different from the West. Therefore PTL held this seminar to share our knowledge and experience in HR with Daydayup members and the other newly started companies in Beijing.

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Supply Chain Management is Not Merely Managing Import and Export

Posted by PTL Group
PTL Group
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on Thursday, 09 March 2017
in Business in China

Interview with PTL Group Logistic Manager—Chris Pan

Chris Pan has over 12-year operating experience at PTL Group. Chris leads the team delivering profitable integrated supply chain management solutions to bridge overseas clients’ penetration into China and assisting to build solid company reputation across diverse industries, ranging from medical equipment, electronics, security, chemical to agriculture machinery, water treatment industries. 

Q: You use the term “Fourth Party Logistics Provider” very often, would you please elaborate the meaning of the term and how it differentiates from “Third Party Logistics Provider”?

A: The concept of a Fourth-Party Logistics (4PL) Provider is an integrator that manages the resources, capabilities, and technology of its own organization and other organizations to design, build, and run comprehensive supply chain solutions. Whereas a third party logistics (3PL) service provider targets at a function, 4PL targets at management of the entire process. A Fourth-party logistics provider can also be considered a consulting firm specialized in logistics, transportation, and supply chain management. In another word, the 4PL stands on a higher level and plays an important role in managing the client’s entire supply chain.

Take PTL Group as an example, as a 4PL provider we look after the whole process of our clients’ entire supply chain ranging from the sales forecast, cash flow planning at the HQ, importation/exportation, safety storage and distribution, etc. Our customized solution can help HQ make better plan and therefore implement HQ’s strategy with operational optimization.

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