Oct. 25 – China’s State Administration of Taxation released the “Announcement on Adjusting the Declaration Measures for Export Tax Refunds (SAT Announcement  No.61, hereinafter referred to as Announcement)” on October 15, which is scheduled to take effect on January 1, 2014. Detailed information can be found below. Continue reading
Oct. 23 – Dezan Shira & Associates’ professional personnel speak at numerous events, host regular podcasts and are often interviewed by global media concerning developments in China. All of this is then captured and placed on the multimedia section of our website. Please see below some of our most recent downloadable media. Continue reading
Oct. 17 – The Shanghai Municipal Government released the “Interpretation of the Administrative Measures for the Shanghai Free Trade Zone (hereinafter referred to as the ‘Interpretation’)” on October 15, which clarifies several issues regarding the administrative measures for the Shanghai Free Trade Zone (Shanghai FTZ). Detailed information can be found below.
Q: What is the background for introducing the “Administrative Measures for Shanghai Free Trade Zone”?
A: With the view to regulate the daily operations of the Shanghai FTZ, the Shanghai Municipal Government released the “Administrative Measures for Shanghai Free Trade Zone (hereinafter referred to as ‘Measures’)” on September 29, which clarify the administrative system and regulations for the zone. Continue reading
Oct. 16 – Investors in the United Kingdom will now have greater access to China’s financial markets thanks a deal reached this week between the two countries to allow British participation in China’s stock and bond markets in exchange for eased regulations governing Chinese banks looking to establish operations in the UK’s financial center.
According to officials in Beijing, British investors will now be able to purchase up to RMB80 billion (US$13.1 billion) in Chinese financial securities, which have largely been off-limits to international investors in the past.
The agreement was announced following the U.K. Chancellor of the Exchequer George Osborne’s visit to China this week. Continue reading
Oct. 15 – On October 9, a bilateral currency swap agreement (BCSA) was signed between the People’s Bank of China (PBOC) and the European Central Bank (ECB). The agreement is valid for three years and could be extended based on further consensus. The swap line signifies a maximum size of RMB350 billion or 45 billion euros (about US$57 billion), which will be used in supporting trade and other exchanges between China and the European Union (EU).
“The swap arrangement has been established in the context of rapidly growing bilateral trade and investment between the euro area and China, as well as the need to ensure the stability of financial markets,” according to the ECB. Continue reading
Oct. 15 – To enjoy the tax benefits of the double taxation avoidance agreement (DTA) signed between Hong Kong and Mainland China (“the Mainland”), eligible applicants must be tax residents of Hong Kong. Recently, China’s State Administration of Taxation (SAT) released the “Announcement Concerning Resident Status Recognition Procedures in Implementing the DTA between Hong Kong and China Mainland (SAT Announcement No. 53, hereinafter referred to ‘Announcement 53’)” to clarify the criteria for being recognized as a Hong Kong resident for tax purposes, which will enter into force on November 1, 2013. Continue reading
Oct. 14 – China’s Ministry of Finance and State Administration of Taxation jointly released the “Circular on Relevant Issues Concerning the Pre-Tax Deduction of Research and Development Expenses (caishui  No.70, hereinafter referred to as the ‘Circular’ )” on September 29, which is retroactively effective from January 1, 2013. Detailed information can be found below. Continue reading
Includes details affecting foreign invested enterprises in the advertising industry
Oct. 12 – China’s State Administration of Industry and Commerce released “Several Opinions on Supporting the Construction of Shanghai Free Trade Zone (waiqizi  No.147, hereinafter referred to as ‘Opinions’)” on September 26, which specify several opinions regarding the industrial and commercial registration reform in the Shanghai Free Trade Zone (Shanghai FTZ). Detailed information can be found below. Continue reading