Other Briefings
SAT Releases Notice on VAT Input Tax Deductions in Fund Projects
Aug. 19 – The State Administration of Taxation recently released a notice regarding several issues on VAT input tax deductions in financing fund projects, effective October 1, 2010. Issued August 9, the notice stipulates that special VAT invoices and other deductible documents, acquired during the construction period of the projects funded by the trust capital, […]
Judicial Interpretation of Foreign-Invested Enterprise Disputes Issued
Aug. 18 – China’s Supreme Court recently disseminated an opinion clarifying certain legal provisions of contracts during disputes between foreign-invested enterprises. The “Provisions of the Supreme People’s Court on Several Issues Concerning the Trial of Disputes Involving Foreign-Invested Enterprises,” which came into effect August 16, states that if a contract concluded between the parties during […]
Customs Regulations Eased for Cross-Border Transportation in Jilin Province
Aug. 16 – The General Administration of Customs recently issued a notice on the cross-border transportation of domestic traded goods in Jilin province, effective August 4, 2010. Zongshugonggao [2010] No. 49 applies to enterprises within Jilin Province which have been registered in the Customs. The notice stipulates that domestically traded goods in Jilin Province can […]
Joint Ventures the Only Way Ahead in China’s Media Market
Op-ed Commentary: Chris Devonshire-Ellis and Richard Hoffmann Aug. 16 – With the news that Rupert Murdoch’s News Corp. is selling its stakes in Chinese TV stations, the focus of attention for investing in China’s massive media market again concentrates on the joint venture as the only permissible route into the market. With a total readership […]
CIRC Releases Management Approach to Insurance Funds
Aug. 11 – The China Insurance Regulatory Commission recently issued the management approach to insurance funds, effective August 31. The notice, issued July 30, stipulates that insurance funds can only be used in the following forms, namely: bank deposits, purchases of bonds, stocks, securities investment funds, estate property investment, and other forms provided in the […]
SAT Clarifies Management of CIT on Business Restructuring
Aug. 9 – The State Administration of Taxation recently issued a notice regarding the management of corporate income tax on business restructuring, effective January 1, 2010. The notice, issued July 26, covers the scope of corporate business restructuring, including changes to the business’s legal form, debt restructuring, stock purchases, asset acquisitions and mergers, divisions, and […]
China Scraps Import Tariffs for High-tech Civilian Projects
Aug. 6 – China recently scrapped import tariffs and value-added taxes on equipment, components and raw materials used in civilian high-tech projects. According to a circular from the Ministry of Finance and other departments, since July 15, projects that involve the research or development of strategic products or core technologies will be tax exempt from […]
Guangdong Govt. Issues New Notice on Cross-Border Trade
Aug. 5 – The Guangdong provincial government recently issued a notice regarding the assessment of enterprises which engage in cross border trade and settle in RMB, and the relating issues on export tax rebate. Guoshuihan [2010] No. 303, issued on July 27, stipulates that all levels of local taxation bureaus should complete the assessment forms […]
