Kaizen Hong Kong

Private Employment Agency License in Malaysia

1. What is a Private Employment Agency (APS) License in Malaysia?

A Private Employment Agency (APS) License is a license issued by the Department of Labour Peninsular Malaysia (JTKSM) under the Private Employment Agencies Act 1981 (Act 246). It is required for any company that carries out employment agency activities, including recruiting, placing, or supplying workers for employers or job seekers.

A company must obtain the relevant license before conducting any employment agency activities in Malaysia.

2. Who is required to apply for a Private Employment Agency (APS) License?

Any company or individual involved in activities such as:

(1) Recruiting employees on behalf of employers;
(2) Matching job seekers with employment opportunities;
(3) Arranging employment placement between employers and candidates;
(4) Providing recruitment services, including foreign worker recruitment services.

However, companies that only recruit employees for their own internal hiring needs (i.e. hiring their own employees) generally do not require an APS License.

3. What are the different categories of Private Employment Agency (APS) Licenses?

There are three categories of APS Licenses:

(1) License A: For recruitment and placement of Malaysian job seekers within Malaysia.
(2) License B: For recruitment and placement of Malaysian and/or foreign job seekers within Malaysia.
(3) License C: For recruitment and placement of Malaysian and/or foreign job seekers for employment outside Malaysia.

4. What is the minimum paid-up capital required for a company to apply for a Private Employment Agency (APS) License in Malaysia?

The minimum paid-up capital requirement depends on the type of APS License that the company is applying for, as follows:

License A: RM50,000
License B: RM100,000
License C: RM250,000

5. What are the main requirements to apply for a Private Employment Agency (APS) License?

The applicant generally needs to satisfy requirements such as:

(1) A company incorporated in Malaysia
(2) Relevant business activities
(3) Minimum paid-up capital
(4) A suitable office premises
(5) At least 51% shareholding of the company must be held by Malaysian citizens
(6) Director responsible for the operation of the agency must be a Malaysian citizen
(7) Payment of money guarantee

Kaizen, together with its associate firms in Malaysia, can help the clients to perform these compliances formalities so as to maintain the Malaysia company in good standing. Please call and talk to our professional accountants in Kaizen for further clarification.

馬來西亞私營職業介紹所執照

一、什麼是馬來西亞私營職業介紹所（APS）執照？

馬來西亞私營職業介紹所執照是由馬來西亞半島勞工局根據《私營職業介紹所法令1981》簽發的執照。凡從事職業介紹、招聘、人才推薦或為僱主及求職者提供就業配對服務的企業，均需申請此執照，以符合相關法律規定。

二、誰需要申請私營職業介紹所（APS）執照？

任何公司或個人，如從事以下活動，均須申請私營職業介紹所（APS）執照：

1、 代表僱主招聘員工；
2、 為求職者尋找及配對就業機會；
3、 為僱主與求職者安排就業配對或職位安置；
4、 提供招聘服務，包括外籍員工招聘服務。

但是，若公司僅為自身業務需要招聘內部員工，一般無需申請私營職業介紹所（APS）執照。

三、私營職業介紹所（APS）執照有哪些類別？

私營職業介紹所（APS）執照分為三類：

1、 A類執照：用於在馬來西亞境內招聘及安置馬來西亞求職者。
2、 B類執照：用於在馬來西亞境內招聘及安置馬來西亞或外國求職者。
3、 C類執照：用於招聘馬來西亞及／或外國求職者，並安置其到馬來西亞境外就業。

四、申請馬來西亞私營介紹所（APS）執照所需的最低實繳資本是多少？

最低實繳資本取決於公司所申請的私營職業介紹所（APS）執照類別，具體如下：

1、 A類執照：RM50,000
2、 B類執照：RM100,000
3、 C類執照：RM250,000

五、 申請馬來西亞私營介紹所（APS）執照主要的條件是什麼？

申請者通常需要符合以下條件：

1、 在馬來西亞註冊成立公司
2、 登記相關的業務性質
3、 滿足最低實繳資本要求
4、擁有合適的營業場所
5、公司至少51%股份必須由馬來西亞公民持有
6、 負責職業介紹所營運的董事必須為馬來西亞公民
7、 繳付保證金

啓源集團擁有經驗豐富的專業團隊，為客戶提供馬來西亞公司的籌建、註冊及各類許可證/牌照的申請及後續維護、稅務籌劃、會計審計、移民簽證及智慧財產權服務，有關詳情請諮詢我們的專業顧問。

惠州市調整2026年度住房公積金繳存基數和繳存比例

惠州市住房公積金管理中心於 2026年6月24日發佈《關於做好2026年度住房公積金繳存基數和繳存限額調整工作的通知》，有關住房公積金的調整內容如下：

1、 自2026年7月1日起，惠州市各住房公積金繳存單位元（以下簡稱單位）應當調整並執行調整後的住房公積金繳存基數（以下簡稱繳存基數），繳存基數為2025年度職工個人月均工資總額（包括計時工資、計件工資、獎金、津貼補貼、加班加點工資、特殊情況下支付的工資等）。

2、 2026年度市住房公積金繳存基數基數不得低於惠州市勞動部門公佈的現行職工月最低工資標準（實際不得低於養老保險最低基數），最高上限為惠州市統計部門公佈的設區城市2025年度城鎮非私營單位就業人員在崗職工月平均工資的3倍。

3、 根據2025年度惠州市城鎮非私營單位就業人員在崗職工月平均工資人民幣11,430元，在2026年7月至2027年6月期間，惠州市公積金繳存基數上限為人民幣34,290元，繳存基數下限為人民幣4,775元 ( 2026年1月1日後新參加工作、新調入職工的繳存基數本次不予調整，仍沿用當前繳存基數)。

4、 單位及職工的住房公積金繳存比例下限各為5%，上限各為12%。單位可以根據自身實際情況在2026年7月份調整一次住房公積金繳存比例。

5、 調整後的繳存基數和繳存比例執行期限為2026年7月1日至2027年6月30日。2025年7月1日至調整當月之間少繳部分的住房公積金，單位在調整後應予以補繳。

6、 2026年度單位為職工繳存的住房公積金月繳存額和代扣職工的住房公積金月繳存額，上限均為4,115元；2026年度單位為職工繳存的住房公積金月繳存額和代扣職工的住房公積金月繳存額上限合計為8,230元。

啟源集團擁有經驗豐富的專業團隊，為客戶提供中國公司的籌建、註冊及各類許可證/牌照的申請及後續維護、稅務籌畫及審計服務，有關詳情請諮詢我們的專業顧問。

深圳市調整2026年度住房公積金繳存基數和繳存比例

深圳市住房公積金管理中心於近日發佈2026年住房公積金繳存基數的上下限規定，有關住房公積金的調整內容如下：

1、 自2026年7月1日起，各住房公積金繳存單位元（以下簡稱單位）應當調整並執行調整後的住房公積金繳存基數（以下簡稱繳存基數），繳存基數為2025年度職工個人月均工資總額。

2、 繳存基數不得低於市勞動部門公佈的上一年度職工月最低工資標準，不得超過市統計部門公佈的上一年度全市在崗職工月平均工資的3倍。

3、 根據2025年度深圳市職工月最低工資標準人民幣2,520元，2025年度深圳市在崗職工月平均工資人民幣16,157元，在2026年7月至2027年6月期間，深圳市公積金繳存基數下限為人民幣2,520元, 上限為人民幣48,471元 ( 2026年1月1日後新參加工作、新調入職工的繳存基數本次不予調整，仍沿用當前繳存基數)。

4、 單位及職工的住房公積金繳存比例下限各為5%，上限各為12%。單位可以根據自身實際情況在2026年7月份調整一次住房公積金繳存比例。

5、 調整後的繳存基數和繳存比例執行期限為2026年7月1日至2027年6月30日。2025年7月1日至調整當月之間少繳部分的住房公積金，單位在調整後應予以補繳。

6、 單位職工可在2026年7月1日至2027年6月30日申請調整一次個人部分繳存比例。如職工自願提高個人繳存比例，單位繳存比例仍按本單位統一標準執行，不隨個人繳存比例調整而提高（職工個人繳存比例只能等於或高於單位繳存比例，不能低於單位繳存比例）。

啟源集團擁有經驗豐富的專業團隊，為客戶提供中國公司的籌建、註冊及各類許可證/牌照的申請及後續維護、稅務籌畫及審計服務，有關詳情請諮詢我們的專業顧問。

廣州市調整2026年度住房公積金繳存基數和繳存比例

廣州市住房公積金管理中心於2026年6月30日發佈《關於2026年度住房公積金繳存調整有關問題的通知》，有關住房公積金的調整內容如下：

1、 自2026年7月1日起，各住房公積金繳存單位元元（以下簡稱單位）應當調整並執行調整後的住房公積金繳存基數（以下簡稱繳存基數），繳存基數為2025年度職工個人月均工資總額。

2、 繳存基數不得低於市勞動部門公佈的現行職工月最低工資標準，不得超過廣州市統計部門公佈的2025年全市職工月平均工資的3倍。

3、 根據2025年度廣州市職工月最低工資標準人民幣2,500元，2025年度廣州市職工月平均工資人民幣13,899元，在2026年7月至2027年6月期間，廣州市公積金繳存基數下限為人民幣2,500元, 上限為人民幣41,697元。

4、 單位及職工的住房公積金繳存比例下限各為5%，上限各為12%。單位可以根據自身實際情況在2026年7月1日至11月30日調整一次住房公積金繳存比例。

5、 調整後的繳存基數和繳存比例執行期限為2026年7月1日至2027年6月30日。2026年12月1日（含）後仍未辦理年度繳存調整的單位，須先完成年度調整後，才能繼續辦理匯繳、補繳住房公積金業務。單位完成年度調整手續後，應對未調整的已繳月份進行補繳或退繳，以確保在2026-2027繳存年度內員工的月繳存額保持一致。

啟源集團擁有經驗豐富的專業團隊，為客戶提供中國公司的籌建、註冊及各類許可證/牌照的申請及後續維護、稅務籌畫及審計服務，有關詳情請諮詢我們的專業顧問。

CARE ALLOWANCE DEDUCTION FOR EMPLOYERS IN MALAYSIA

The Government gazetted the Income Tax (Deduction For Payment Of Care Allowance Of Parents and Grandparents) Rules 2026 [P.U.(A) 231/2026] on 26 June 2026. This legislation allows employers in Malaysia to claim a special tax deduction for providing care allowances to the employees’ elderly relatives. These rules are deemed to have effect from the Year of Assessment 2025.

1. Scope of the Deduction

A resident employer in Malaysia may claim a tax deduction for expenses incurred in providing care allowance to employees for the care of their:

(1) parents;
(2) adoptive parents; or
(3) grandparents.

While the Rules do not define these relationships, employers should follow general Malaysian tax compliance principles. “Parents” refers to natural parents or foster parents where the individual is an adopted child, and “Grandparents” refers to the parents of an individual’s parents. The parents, adoptive parents and grandparents must be resident in Malaysia.

The amount of deduction allowed under these Rules shall be in addition to any deduction permitted under Section 33 of the Income Tax Act 1967. This means employers are eligible to enjoy an extra tax benefit beyond the standard deduction for employees.

2. Amount of Deduction and Restrictions

The Rules do not specify a fixed monetary amount for this additional deduction. The Director General of Inland Revenue has the authority to review the allowance amount. If the total expenditure exceeds what is deemed reasonable or typical within ordinary course of business operations, the excess amount will be disallowed.

Additionally, should there be two basis periods overlapping, the common period for both periods shall be deemed to fall in the first basis period only to avoid the same expenses being claimed twice.

馬來西亞雇主護理津貼扣除

政府於 2026 年 6 月 26 日刊憲了《2026 年所得稅（贍養父母及祖父母護理津貼支出扣除）規則》[P.U.(A) 231/2026]。該法案允許馬來西亞的雇主在向員工的長輩親屬提供護理津貼時，申請一項特別稅收扣除。這些規則被視為自 2025 課稅年度起生效。

一、扣除範圍

馬來西亞居民雇主為員工提供以下長輩的護理津貼而產生的費用，可以申請稅收扣除：

1 、 親生父母；
2 、 養父母；或
3 、 祖父母。

雖然該《規則》並未對這些親屬關係做出明確定義，但雇主應遵循馬來西亞一般的稅務合規原則。「父母」是指親生父母，或在個人為被收養兒童情況下的養父母；「祖父母」是指該個人父母的父母。上述父母、養父母和祖父母必須是馬來西亞居民。

根據本《規則》允許的扣除金額，應在根據《1967年所得稅法》第33條允許的任何扣除之外額外扣除。這意味著，除了針對員工的標準扣除之外，雇主還有資格享受額外的稅收優惠。

二、扣除金額與限制

該《規則》並未對這項額外扣除規定固定的貨幣金額。內陸稅收局局長有權對津貼金額進行審查。如果總支出超過了在日常業務運營中被視為合理或典型的範圍，超出部分將不予扣除。

此外，如果出現兩個基準期重疊的情況，兩期間的共同期間應被視為僅屬於第一個基準期，以避免同一筆費用被重複申領。

U.S. Tax Rules and Refund Guide for Foreign Investors Investing in U.S. Securities

Non-U.S. tax residents (also referred to as Nonresident Aliens (NRAs)) who receive U.S.-source income may be subject to U.S. federal income tax reporting and filing requirements. Common types of U.S.-source income include investment income from U.S. stocks and bonds, such as capital gains, interest, and dividends.

This article focuses on the various types of income earned by Nonresident Aliens (NRAs) from investments in U.S. securities, explains which types of income are generally subject to U.S. federal income tax or exempt from taxation, discusses when the tax refund may be available, and outlines the basic procedures for claiming a refund. The goal is to help foreign investors better understand the applicable U.S. tax rules and avoid unnecessary tax withholding or losing potential refund opportunities.

1. Determining U.S. Tax Residency Status

Determining whether an individual is considered a U.S. tax resident is the first step in identifying the applicable tax treatment. A Nonresident Alien (NRA) is generally an individual who is not a U.S. citizen and does not satisfy either the Green Card Test or the Substantial Presence Test for the applicable tax year.

(1) Green Card Test

An individual who is a lawful permanent resident of the United States (i.e., Green Card holder) at any time during a calendar year is generally treated as a U.S. tax resident for that year.

In most cases, U.S. tax residency begins on the first day the individual is physically present in the United States as a lawful permanent resident. Certain individuals may elect to be treated as U.S. tax residents for the entire tax year, even if permanent resident status is obtained later in the year, provided the applicable IRS requirements are satisfied.

(2) Substantial Presence Test

An individual may also become a U.S. tax resident by meeting the Substantial Presence Test, which is based on the number of days physically present in the United States. To satisfy the test, the individual must meet both of the following requirements:

(a) Be physically present in the United States for at least 31 days during the current calendar year.

(b) Have a weighted total of at least 183 days during the current year and the two immediately preceding calendar years., calculated as follows:
Days present during the current year × 1
Days present during the immediately preceding year × 1/3
Days present during the second preceding year × 1/6

2. Common Investment Income Earned by Foreign Investors and Tax Treatment

In general, an investor who satisfies neither the Green Card Test nor the Substantial Presence Test is treated as a Nonresident Alien (NRA) for U.S. federal income tax purposes.

Common types of income earned from investing in U.S. securities include capital gains from the sale of stocks, stock dividends, ETF distributions, REIT distributions, interest earned on deposits with U.S. banks, and interest from U.S. bonds.

3. Situations Where a Nonresident Alien May Claim a Tax Refund

If U.S. federal income tax has been overwithheld or incorrectly withheld from an investor's U.S.-source investment income, the investor may be eligible to claim a refund from the Internal Revenue Service (IRS), depending on the specific circumstances.

(1) Why Is Tax Withheld?

The United States generally requires withholding on certain U.S.-source payments made to Nonresident Aliens.

Under this system, the payer, such as a publicly traded company, broker, financial institution, or withholding agent is generally required to withhold the applicable U.S. federal income tax before making the payment and remit the withheld tax to the IRS.

It is important to note that the amount withheld is not always equal to the investor's actual U.S. federal income tax liability. If more tax has been withheld than is legally required, the investor may be entitled to claim a refund from the IRS.

(2) Common Situations That May Qualify for a Refund

(a) A valid Form W-8BEN was not submitted to the broker in a timely manner, resulting in the failure to apply an applicable income tax treaty withholding rate.
(b) The broker applied an incorrect withholding tax rate, resulting in excess withholding.
(c) Tax was withheld from income that is exempt from U.S. federal income tax under applicable law.
(d) The income was subsequently reclassified, or other circumstances resulted in the investor's actual tax liability being lower than the amount withheld.

4. Tax Refund Procedures and Required Documentation for Nonresident Aliens

To claim a refund, investors generally need to prepare the following documentation and complete the applicable filing procedures.

(1) Prepare the Required Documents

(a) Form 1040-NR (U.S. Nonresident Alien Income Tax Return);
(b) Form W-7 (Application for IRS Individual Taxpayer Identification Number (ITIN));
(c) Form 1042-S (Foreign Person's U.S. Source Income Subject to Withholding) and Form 1099-B (Proceeds From Broker and Barter Exchange Transactions), if applicable, provided by the broker or financial institution;
(d) A valid passport or other acceptable identification documents;
(e) Any additional supporting documentation required by the IRS, if applicable.

(2) Submit the Tax Refund Claim

The applicant should complete Form 1040-NR based on the actual amount of income received and the U.S. federal income tax withheld, calculate the correct tax liability, and submit the return together with all required supporting documentation to the IRS. If the actual U.S. federal income tax liability is less than the amount withheld, the excess withholding may be claimed as a refund on the tax return.

After receiving the return, the IRS will review the filing and determine the amount of any refund due. If the filing is complete and approved, the refund is generally issued by paper check or, where available and eligible, by direct deposit. Processing times vary depending on the complexity of the case and the IRS's workload.

5. Additional Considerations

(1) Time Limit for Claiming a Refund

Under the Internal Revenue Code, a claim for refund generally must be filed within three years from the date the tax return was filed, or within two years from the date the tax was paid, whichever period expires later. If the applicable statute of limitations expires, the IRS will generally not issue a refund.

Accordingly, investors who believe excessive U.S. federal income tax has been withheld from dividends or other U.S.-source income should file their refund claims promptly to avoid losing their right to recover the overpaid tax.

(2) Retain Tax Records and Supporting Documents

Foreign investors should maintain complete records relating to their U.S. investment income, including tax forms and supporting documentation. These records may be needed when claiming future refunds, responding to IRS inquiries, verifying investment income, or satisfying tax reporting requirements in their home jurisdiction.

(3) Timely Submit or Update Form W-8BEN

Form W-8BEN allows foreign investors to certify their status as foreign persons for U.S. tax purposes and, where applicable, claim reduced withholding rates under an income tax treaty.

Investors should ensure that the information provided on Form W-8BEN remains accurate and valid. Unless a change in circumstances occurs, a properly completed Form W-8BEN generally remains valid through the last day of the third calendar year following the year in which it is signed.

Failure to submit or timely renew Form W-8BEN may result in the broker applying the default statutory withholding rate under U.S. tax law rather than any applicable treaty-reduced rate.

(4) ITIN Validity

If an investor obtains an Individual Taxpayer Identification Number (ITIN) by filing Form 1040-NR in connection with a U.S. tax refund claim, it is important to understand that an ITIN do not remain valid indefinitely.

Generally, an ITIN expires if it is not included on a U.S. federal income tax return for three consecutive tax years. Once an ITIN has expired, it must be renewed before it can be used again on a U.S. federal income tax return. Failure to renew an expired ITIN may delay the processing of the tax return or any associated refund.

外國人投資美國證券的征稅規則及退稅指南

美國的非稅務居民（或非居民外國人，NRA），如取得美國來源的收入，通常存在美國聯邦所得稅申報義務。常見的美國來源收入包括在美投資股票或債券的投資所得，其中包括資本利得，利息和股息等。本文將聚焦美國非稅務居民投資美國證券產生的各類收益，探討應稅收入及免稅收入的劃分，退稅申請的適用情形，以及退稅申請的基本流程。旨在幫助投資者更好地理解美國稅務規定，避免因不瞭解規則而多繳稅款或錯失退稅機會。

一、如何判斷美國稅務居民身份

判斷是否為美國稅務居民，是決定稅務處理方式的關鍵。非美國稅務居民是指不具備美國公民身份，也不滿足綠卡測試或在當年未能滿足實質居住測試的外國公民。

1、 綠卡測試（Green Card Test）

個人在某一日歷年內持有美國綠卡（即“合法永久居民”身份）的，即為該年度美國稅務居民。其稅務居民身份通常自該年度首次以永久居民身份抵達美國之日起算。綠卡持有人也可選擇將全年視為稅務居民期間，即使在年末才取得綠卡。

2、 實質居住測試（Substantial Presence Test）

通過計算在美居住天數來判定稅務居民身份，需滿足：

（1） 當年在美國居住至少31天

（2） 過去三年合計居住天數達到183天，計算規則如下：

當年居住天數× 1
前一個年度居住天數× 1/3
前兩個年度居住天數× 1/6

二、外國人投資美國證券常見收入及征稅規則

一般情況下，如投資者既不滿足綠卡測試（Green Card Test），也不滿足實質居住測試，則被視為非美國稅務居民。

投資美國證券常見的收入包括買賣股票資本利得（Capital Gain）、股票股息（Dividend）、ETF分紅、REIT分紅、美國銀行存款利息、債券利息等。

常見收入及征稅規則如下：

收入類型 是否徵收美國聯邦所得稅
資本利得 一般不征稅
股票股息 一般征稅
ETF 分紅 視分紅性質而定
REIT 分紅 一般征稅
美國銀行存款利息 一般不征稅
債券利息 一般不征稅（符合條件時）

三、非美國稅務居民申請退稅的適用情形

如投資者在取得美國證券投資收入時被多預扣或誤預扣美國聯邦所得稅，可根據具體情況向美國國稅局（IRS）申請退還多扣繳的稅款。

1、 為什麼會被預扣稅？

美國實行預扣稅（Withholding Tax）制度。對於支付給非美國稅務居民的某些美國來源收入，付款方（如上市公司、券商、銀行或支付代理人）依法需要在支付收入時，先代扣代繳相應的美國聯邦所得稅，再將剩餘金額支付給投資者。

需要注意的是，預扣稅並不一定等於投資者最終應繳納的稅款。投資者可以按照具體情況向美國國稅局申請退回多扣繳的稅款。

2、 常見的可申請退稅的情形

（1） 未及時向券商提交有效的 Form W-8BEN，導致未適用稅收協定優惠稅率；
（2） 券商適用的預扣稅率錯誤，導致稅款多扣；
（3） 部分依法免稅的收入仍被預扣稅款；
（4） 因收入性質重新分類或其他原因，實際應納稅額低於已預扣稅額。

四、非美國稅務居民申請退稅的流程及所需資料

申請退稅時，投資者通常需要準備以下資料，並按相關流程提交退稅申請。

1、 準備相關資料

（1） 準備 Form 1040-NR（美國非稅務居民個人所得稅申報表）；
（2） 準備 Form W-7 （ITIN 申請文件）；
（3） 收集券商或證券機構發放的 Form 1042-S（外國人美國來源收入及預扣稅證明）及 Form 1099-B（證券交易明細報表）（如適用）；
（4） 護照及身份證明文件；
（5） IRS 要求的其他相關證明資料（如適用）。

2、 提交退稅申請

申請人應根據實際收入及已預扣稅款情況填寫 Form 1040-NR，計算實際應納稅額，並將稅表及相關附件提交至美國國稅局（IRS）。如實際應納稅額低於已預扣稅額，可在稅表中申請退還多扣繳的稅款。

IRS 收到申請後，會審核申報資料及退稅金額。如資料完整且符合規定，退稅款通常會以支票或直接存款（符合條件時）方式發放。實際處理時間會因個案情況及 IRS 審理進度而有所不同。

五、後續注意事項

1、 申請退稅的有效期限

根據美國稅法規定，納稅人通常需要在稅表提交之日起3年內，或相關稅款實際繳納之日起2年內（以較晚者為准）申請退還多繳稅款。超過適用期限後，IRS 通常不再受理退稅申請。

因此若投資者發現股息等美國來源收入被多預扣稅款，應及時申請退稅，避免因超過期限而無法追回多繳稅款。

2、 妥善保管稅務申報資料及相關表格

外國投資者應妥善保存與美國投資收入相關的稅務資料，這些資料不僅可用于未來申請退稅，也有助於應對 IRS 查詢、核實投資收入，或滿足所在國家（地區）的稅務申報要求。

3、 及時提交或更新 Form W-8BEN

Form W-8BEN 是外國投資者向美國券商聲明其非美國稅務居民身份以及申請適用稅收協定優惠的重要文件，投資者應確保 Form W-8BEN 資訊準確且有效。一般情況下，Form W-8BEN 的有效期通常持續至簽署日期後的第三個日曆年度最後一天，除非投資者身份資訊發生變化。

如未及時更新 Form W-8BEN，券商可能無法繼續適用優惠稅率，並可能按照美國稅法默認稅率進行預扣。

4、 ITIN有效期

如投資者因申請美國退稅，提交 Form 1040-NR取得 ITIN（Individual Taxpayer Identification Number），需要注意，ITIN 並非永久有效。如三個連續納稅年度的美國聯邦納稅申報表中未使用 ITIN，ITIN 將會過期。ITIN 失效後，如需要在聯邦納稅申報表中使用，必須及時更新過期的 ITIN，以避免延誤納稅申報表的審理。

Q&A on Capital Reduction of Chinese Companies

1. Is it possible for a Chinese company to reduce its registered capital?
Answer: A Chinese company can apply to reduce its registered capital with the registration authority. But it must comply with and fulfill the capital reduction procedures stipulated in the Company Law of the PRC.

2. What are the capital reduction procedures stipulated in the Company Law of the PRC?
Answer: The capital reduction procedures stipulated in the Company Law of the PRC are as follows:
(1) The company prepares a balance sheet and property inventory;
(2) The shareholders' meeting passes a resolution on capital reduction;
(3) The company notifies creditors within 10 days from the date of passing the resolution on capital reduction;
(4) The company announces the capital reduction in newspapers or the National Enterprise Credit Information Publicity System within 30 days from the date of passing the resolution on capital reduction;
(5) Creditors are entitled to demand the company to pay off their debts or provide corresponding guarantees within 30 days upon receipt of notice, or within 45 days from the date of announcement if they have not received the notice;
(6) After the expiration of the announcement period, the company shall apply to the registration authority to change the registered capital in accordance with the law.

3. What are the legal consequences of unlawful capital reduction of Chinese companies?
Answer: According to the Company Law of the PRC, the legal consequences of a company's unlawful capital reduction mainly include:
(1) Shareholders shall return the funds they have received.
(2) The reduction or exemption of shareholders' obligation of capital contribution shall be restored to their original state.
(3) Shareholders and responsible directors, supervisors, and senior management personnel who cause losses to the company shall be liable for compensation.
(4) If the company is unable to pay its due debts, shareholders who illegally reduce their capital shall bear supplementary compensation liability for the debts that the company cannot pay off within the limit of the reduced capital.

4. Is it possible for a Chinese company to reduce its registered capital not in line with the proportion of shareholders' contributions?
Answer: According to the Company Law of the PRC, when a company reduces its registered capital, it in principle shall reduce the capital in accordance with the proportion of shareholders' capital contribution or shares. However, if it is otherwise stipulated by the law, with unanimous consent of all shareholders of a limited liability company, or otherwise provided in the articles of association of a joint stock limited company, the capital may also be reduced non-proportionally.

5. What is formal capital reduction?
Answer: Formal capital reduction refers to the type of capital reduction in which a company, in accordance with Article 225 of the Company Law of the PRC, uses the registered capital actually paid in by the shareholders to offset losses. It only reduces the paid in capital amount booked in the financial statements without returning contributed capital to the shareholders or exempting them from their capital contribution obligations.

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