Other Briefings
Five Year Tax Exemptions for Media and ‘Cultural’ Industries
Apr. 14 -The Chinese government has announced a preferential tax policy spanning five years to help boost the country’s “cultural industries.” According to the Ministry of Finance, cultural companies will be qualified for an exemption of value-added tax, business tax or import duties from 2009 to 2013. Cultural companies are defined as those dealing with […]
China to Standardize Rural Land-Use Transfer Rights
Apr. 8 – China is working out the details of implementing a model contract for rural land-use rights transfer to regularize farmland-use rights. The State Administration for Industry and Commerce said that the model will outline the object, time limit, payment, mode and time of payment of the deal in addition to the date of […]
Beijing’s Car Restrictions to Continue for Another Year
Apr. 7 – Beijing’s revised restrictions on cars will continue for another year beginning April 13 and will only be enforced on weekdays not including holidays and weekends. Spokesman for the municipal committee of communications, Wang Zhaorong, said in a press conference that some of the rules were changed to make it easier for residents […]
Forbes: Hong Kong has Friendliest Tax Regime in the Region
Apr. 3 – According to the 2009 Tax Misery and Reform Index, Hong Kong was ranked as the friendliest tax regime in the Asia-Pacific region and the third in the world. The annual index was done by business magazine, Forbes Asia, by comparing 50 jurisdictions around the world. The score was calculated based on the […]
Foreign Investors Asked to Commit 5 Year Lockup for Bank Shares
Apr. 2 – The China Banking Regulatory Commission (CBRC) has extended the lockup period for bank shares held by foreign investors from of 3 years to 5 years or more. CBRC chairman, Liu Mingkang, was quoted by China Daily during a recent meeting held at the Chinese Academy of Social Sciences, that if Chinese commercial […]
New Regulations on Travel Agencies Effective May 1
Mar. 31- New regulations that will allow local and foreign-owned travel agencies to run inbound and domestic tours with a lower registered capital requirement than was previously the case will take effect beginning May 1. The revised Regulations on Travel Agencies will permit foreign-owned travel agencies to set up in China with just RMB300,000 compared […]
New Regulation for Company Chops in Shenzhen
SHENZHEN, Mar. 11 – For companies in Shenzhen that are looking to change or report the loss of their company chop, legal representatives are now required to appear and file the application in person. In the past, this could be done through power of attorney. Prior to notifying authorities about the loss of the documents […]
Tax Regulations for Non-Resident Enterprises
Mar. 3 – The State Administration of Taxation (SAT) has issued the tax regulations for non-resident enterprises that do business and have establishments or places of business in China. Tax registration and filing for non-resident enterprises in China is set to begin from March 1, 2009 while 2008 corporate income tax filing should be done […]
