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Female Employees to Receive Greater Benefits, Special Working Conditions
Female employees in China may receive greater maternity benefits in the future, including longer maternity leave, as well as special working conditions and expanded health care coverage, according to the new “Provisions on Female Labor Protection under Special Circumstances (Draft for Public Opinions)” disclosed by the Legislative Affairs Office of China’s State Council yesterday.
China-Syria DTA Takes Effect
The “Agreement between the Government of the People’s Republic of China and the Government of the Syrian Arab Republic for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income (China-Syria DTA)” – signed on October 31, 2010 – came into effect on September 1, 2011, according to the State Administration of Taxation.
China Expands Tax Incentives to Promote Circular Economy
China will reduce or eliminate value-added tax (VAT) burdens on enterprises that recycle wasted resources during production, in a bid to further promote the country’s circular economy that makes industrial manufacturing more environmentally friendly.
M&A Registration to Become Easier in China
China is attaching more importance to supporting company restructuring as well as mergers and acquisitions (M&As), hoping these business activities will help optimize the country’s resource distribution and push forward economic transition.
China Acts on Illegal Renting Out of Agricultural Land for Commercial Use
China’s Ministry of Land and Resources issued the “Urgent Circular on Strictly Prohibiting Industrial and Commercial Enterprises from Altering Land Use Purpose without Permission for Constructing Non-agricultural Facilities on Leased Agricultural Land” on November 29, 2011.
China’s SAT Details VAT Reform Issues in Shanghai
To resolve the issue of duplicate taxation on goods and services and support the development of the modern service industry, the Chinese government has commenced the value-added tax (VAT) reform aimed at gradually replacing business tax (BT) with VAT in China.
Vietnam to Cut Income Tax By 30% for Small Business
On November 4, 2011 the government enacted Decree 101/2011/ND-CP presenting tax incentives to help enterprises and individuals survive in the current high level of inflation in Vietnam.
China to Exempt Small Businesses From 22 Fees
In a move to substantially reduce the financial burdens on the country’s micro and small-sized enterprises (MSEs), China recently announced that MSEs would be exempt from 22 types of administrative fees charged by 13 different government departments. The introduction of this new favorable fiscal measure is yet another step China is willing to take to assist its MSEs following other recent promises of favorable loan offers and tax treatment.
China’s SAT Clarifies Tax Treatment towards Mining Services
When a taxpayer exploits mineral resources for other entities or individuals, the various services it provides can be subject to different types of taxes, according to a recent announcement by the State Administration of Taxation (SAT).
China to Get Tough on Employers Shirking Social Insurance Payments
China is mulling stronger enforcement of its latest Social Insurance Law by specifying harsher penalties for enterprises that delay or do not fulfill their payment obligations towards all five of the required social insurance items.
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