China released the “Announcement on Issues Concerning the Declaration of Value-Added Tax by Head Offices and Branches under Pilot Collection of Value-Added Tax in Lieu of Business Tax” on May 7, which is scheduled to take effect on June 1,2013. Detailed information can be found here.
The purpose of Announcement 23 is to clarify the IIT liability of individual investors who acquire 100 percent equity from an enterprise and then convert the enterprise’s accumulated surplus into share capital.
China’s first national mental health law, which has taken almost 27 years to draft, came into effect on May 1, 2013. Detailed information can be found here.
China released the newly revised "Good Supply Practice of Pharmaceutical Products" on January 22, which is scheduled to take effect on June 1, 2013. Detailed information can be found here.
China released the “Circular on Administrative Measures for Foreign Debt Registration” on April 28, which came into effect on May 13, 2013. Detailed information can be found below.