CIRC to Ease Limits on Insurers’ Investments in China
May 31 – The China Insurance Regulatory Commission (CIRC) will ease limits and relax some rules on investments made by insurance companies in stocks and bonds, but caution remains on property investments, according to a CIRC official statement. “We are in discussions to allow major insurers to invest 20 percent of their assets into stocks […]
Notice on the Management Approach of Export Tax Rebate for Finance Leasing Vessels
TIANJIN, May 28 – The State Administration of Taxation recently issued a notice regarding the management approach to export tax rebates for finance leasing vessels, effective April 1. Guoshuifa [2010] No. 52, issued on May 18, stipulates the export tax rebate scope, requirements and calculating method for finance leasing vessels, in accordance with circular Caishui […]
Hong Kong, Austria Sign Tax Treaty
May 27 – In the latest of a string of trade deals organized by the Hong Kong government, the Chinese special administrative region signed a trade agreement with Austria on Tuesday that will remove double taxations between the two areas and reduce taxes in a number of sectors. Before the most recent tax treaty was […]
Notice on Investigating the Sources of CIT
May 27 – The State Administration of Taxation and the Ministry of Finance jointly issued a notice recently regarding the 2010 investigation on sources of CIT. Caishui [2010] No. 28, issued on May 5, stipulates the scope, content, time line and requirements of the investigation. Compared to the 2009 version, the updated notice includes the […]
Notice on Launching Special Tax Inspection
May 26 – The State Administration of Taxation recently issued a notice regarding the launching of a special tax inspection in 2010 with an effort to further regulate taxation procedures and provide a better tax environment. Guoshuifa [2010] No. 35, issued on April 16, stipulates the tax inspectoral targets and projects, including industries, business activities […]
China to Release Green Car Subsidy Details in Late May
May 25 – China is set to release the details of its green car subsidy program later this month, with measures to subsidize the buyers of green vehicles and boost domestic purchases of electric and hybrid cars. The subsidy program has already been approved by the National Development and Reform Commission, the Ministry of Finance, […]
Regional Plan for Yangtze River Delta Approved
May 25 – China’s State Council and the National Development and Reform Commission (NDRC) officially approved the regional plan for the Yangtze River Delta on Monday. The regional plan focuses on developing the Yangtze River Delta into a key international gateway for the Asia-Pacific region, as well as an important global center for the modern […]
China Plans to Alter Resource Tax Structure
May 24 – China plans to alter the tax structure on the profits made off energy products according to a work conference last Thursday in Xinjiang. The new structure, which will first be tested in a pilot program in the province, will consider resource prices as a factor when levying taxes, compared to the current […]