Company News
Latest News
Shanghai to Offer Incentives to Shipping-Related Industries
As a city striving to become an international shipping center, Shanghai is brewing a complete package of favorable policies for its shipping-related industries. The new policies are hoped to significantly bring down shipping companies’ tax liabilities to levels similar to the shipping tax burdens seen in Hong Kong, experts say.
Financial Institutions Eligible for Stamp Duty Exemptions
Following the Chinese State Council’s call for providing more financial support to cash-strapped small enterprises under the country’s tightening monetary environment, the State Administration of Taxation and Ministry of Finance recently co-issued a new circular that will grant favorable tax treatment to financial institutions when they offer loans to small enterprises.
China to Commence Pilot Project for VAT Reform in Shanghai
Chinese Premier Wen Jiabao held a State Council Executive Meeting on October 26 which reached the decision to commence a pilot project within the Shanghai Municipality for the deepening of VAT reform.
Shenzhen Introduces Favorable Policies to Promote E-commerce Development
Shenzhen was approved by China’s National Development and Reform Commission and the Ministry of Commerce to be the first e-commerce model city in September 2009, following the State Council’s issuance of “Certain Opinions on Accelerating the Development of E-commerce (Guobanfa [2005] No. 2)” in 2005, which provided general guidance for the development of e-commerce in China.
China to Impose Anti-dumping Duties on US and EU Caprolactam Imports
China will start levying anti-dumping duties on imports of caprolactam – an organic compound that is used in the manufacturing of synthetic fibers – from the United States and the European Union, according to the Chinese Ministry of Commerce (MoC).
China Clarifies Business Tax Calculation Method for Rail Transport Operations
In its recent announcement, the Chinese State Administration of Taxation (SAT) specified the business tax (BT) calculation method for rail transport operations that are conducted through cooperation among different companies.
China Officially Opens Cross-Border RMB-Denominated FDI
Following the issuance of a circular draft concerning cross-border RMB-denominated foreign direct investment (FDI) in August, the Chinese Ministry of Commerce (MoC) has recently fixed and released the official legal document, which can be used as a guidance for foreign investors who intend to conduct FDI with RMB legally obtained overseas.
China Clarifies Consumption Tax Rates for Mixed Liquors
China’s State Administration of Taxation (SAT) issued the “Announcement on Applicable Consumption Tax Rates for Mixed Liquors (SAT Announcement [2011] No.53)” on September 28, clarifying the consumption tax rates for different types of mixed liquors.
State Council Announces Financial Measures to Help SMEs
China’s State Council announced measures yesterday to provide tax relief and financial easing towards the nations small-medium enterprises. Acknowledging that SME’s play a crucial “role in job creation and social harmony,” the measures are a timely response to a structural issue that has long plagued China – getting sufficient capital to smaller businesses.
Property Transfer Not Subject to Business Tax during Asset Restructuring
Taxpayers in China who transfer their immovable property or land use rights to others are not liable for business tax (BT) payments, a recent official document says.