The State Administration of Taxation (SAT) gave new clarification on the withholding tax treatment for China-sourced interest received by foreign branches of Chinese banks in a bullet circulated this past June. The SAT’s Announcement on Issues Related to Withholding Enterprise Income Tax on Interest Paid by Domestic Institutions to Overseas Branches of Chinese Banks took effect 19 July.
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Business Law Digest is compiled with the assistance of Baker & McKenzie. Readers should not act on this information without seeking professional legal advice. You can contact Baker & McKenzie by e-mailing Danian Zhang (Shanghai) at: danian.zhang@bakermckenzie.com