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Hague Conference Establishes Asia-Pacific Regional Office in Hong Kong
The Hague Conference on International Private Law (HCCH), the world’s leading intergovernmental organization in the field of private international law, established its first Asia-Pacific regional office in Hong Kong today.
China Releases Circular on Taxable Services Scope of VAT Reform
China’s Ministry of Finance and the State Administration of Taxation released “The Supplementary Circular on the Scope of Taxable Services and Several Other Tax Policies in the Pilot Collection of Value Added Tax (VAT) in Lieu of Business Tax in the Transportation Industry and Certain Modern Services Industries (caishui [2012] No. 86, hereinafter referred to as the ‘Circular’) on December 4, which clarifies a collection of relevant tax policies regarding the VAT reform in its target industries. Detailed information can be found below.
China Releases Announcement on Export Quotas of Rare Earth
China’s Ministry of Commerce (MOC) released the “Announcement on the Application Conditions and Procedures for Export Quotas of Rare Earth in 2013 (Announcement [2012] No.86)” on November 27, clarifying the application conditions and procedures of export quotas for rare earth production enterprises and circulation enterprises. Detailed information can be found below.
China Law Deskbook Legal Update – December 2012
Jim Zimmerman, the China managing partner of U.S. law firm Sheppard Mullin, is a good friend of China Briefing and is also both the Chairman Emeritus of Amcham China and the author of the China Law Deskbook – considered by many to be the bible of China law. Jim has recently introduced a regular update service to the China Law Deskbook and has kindly given permission for China Briefing to host it here.
China Releases Announcement on Consumption Tax Policies
China’s State Administration of Taxation (SAT) released the “Announcement on Certain Issues Related to Consumption Tax Policies (Announcement [2012] No. 47, hereinafter referred to as ‘Announcement’)” on November 6, 2012.
China’s SAFE Releases Circular on Foreign-Invested Partnership Enterprises
With the view to facilitate foreign investment and standardize the administration of foreign exchange for foreign-invested partnership enterprises, China’s State Administration of Foreign Exchange (SAFE) released the “Circular on Issues Concerning the Administration of Foreign Exchange of Foreign-Invested Partnership Enterprises (huifa [2012] No. 58, hereinafter referred to as ‘Circular’)” on November 19, 2012.
China’s SAFE Releases Circular on Foreign-Invested Partnership Enterprises
With the view to facilitate foreign investment and standardize the administration of foreign exchange for foreign-invested partnership enterprises, China’s State Administration of Foreign Exchange (SAFE) released the “Circular on Issues Concerning the Administration of Foreign Exchange of Foreign-Invested Partnership Enterprises (huifa [2012] No. 58, hereinafter referred to as ‘Circular’)” on November 19, 2012.
China’s SAT Issues FAQs Relating to Tax Payments: Part III
China’s State Administration of Taxation (SAT) issued another set of frequently asked questions relating to tax payments on November 27, 2012. The answers provided are based on existing regulations. Detailed information can be found below.
Foreign Permanent Residents in China to Pay Taxes in Accordance with Chinese Laws
According to the “Measures on the Relevant Treatment of Foreigners Holding Permanent Residence Permits in China (renshebufa [2012] No.53, hereafter referred to as the ‘Measures’)” jointly released by China’s Ministry of Human Resource and Social Security (MOHRSS), Ministry of Public Security (MPS) and 23 other ministries in October, foreigners in China with permanent residence permits shall pay taxes in accordance with Chinese laws.
China’s MoC Seeks Comments on Administrative Measures for Liquor Circulation
China’s Ministry of Commerce (MoC) released the “Administrative Measures for Liquor Circulation (Revision – Draft for Comments) (hereinafter referred to as the ‘Draft’)” on November 14. The Draft is intended to strengthen the control and management of liquor circulation throughout the country. The collection of comments is conducted online, and will be closed on December 14, 2012.
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