An Overview on Shenzhen Individual Bankruptcy Regulations

An Overview on Shenzhen Individual Bankruptcy Regulations   China’s first regulation on individual bankruptcy, the Regulations of Shenzhen Special Economic Zone on Individual Bankruptcy, came into force on 1 March 2021. An overview on the said Regulations is enclosed hereby for your easy reference.   Who can file for bankruptcy?   According to the Regulations, eligible debtors and creditors both can file bankruptcy petitions to the court.   The debtors who can file for bankruptcy shall meet the following requirements: (1)  have been living in Shenzhen and have paid social insurance for 3 consecutive years in Shenzhen; (2)   unable to pay off their debts because of business struggles or problematic consumption or their assets are insufficient to pay off all the debts.   The creditors who hold more than RMB500,000 due creditor’s rights against the debtor alone or jointly can also file a bankruptcy petition to the court when the […]

Our China Taxation Services

In accordance with the tax laws of China, all taxpayers or withholding agents shall pay taxes and fees in the manner within the time limit as prescribed by Chinese tax authorities. With a team of experienced tax consultants, Kaizen is committed to providing professional taxation services to its clients. by thoroughly studying and analyzing China existing taxation laws and related preferential policies. The Taxation services provided by Kaizen include but not limited to the following items: Tax Consultancy Services Tax Planning Services Tax Due Diligence Services Tax Compliance Services Transfer Pricing Computation and Declaration of Value-added Tax (VAT)  Computation and Declaration of Enterprise Income Tax (EIT) Computation and Declaration of Individual Income Tax (IIT) Computation and Declaration of Urban Maintenance and Construction Tax Computation and Declaration of Local Funds and Surcharges Computation and Declaration of other Taxes and Surcharges Provision of Enterprise Income Tax Annual Reconciliation and Settlement Services The […]