Today, Bridge IP Law Commentary will post you the latest China laws and regulations promulgated in November, and the following is the first part of the month:
1. The State Council of People’s Republic of China decides to start pilot VAT reform in Shanghai and a series of policies will be promulgated
On 16th November, 2011, the Ministry of Finance and the State Administration of Taxation issued the Experimental Plan of Transfer of Levy on Business Tax to VAT, and the Notice of Experiment of Transfer of Levy on Business Tax to VAT in the Transportation Industry and Part Modern Service Industries in Shanghai, which provide that the pilot of VAT replaces the existing business tax will be carried out in the transportation industry and part modern service industries in Shanghai from 1st January, 2012. Before that, with regarding to VAT, the Ministry of Finance and the State Administration of Taxation has issued the Notice on Return the Period-end Un-credited VAT Levied on the Purchase of Integrated Circuit Enterprises, and on the same day, the State Administration of Taxation issued the Announcement on the Adjustment of the Administration Measures of the Preferential Policy “Levy first and Return Immediately” for VAT.
2. The Twelfth-Five-Year Plan of the Development of Intellectual Property Right of Shanghai Municipality was issued by the Shanghai Municipality
On the opening ceremony of the Fifth Patent Week Shanghai, China held on 9th November, the Twelfth Five-Year Plan of the Development of Intellectual Property Right of Shanghai Municipality (hereinafter the Plan)was officially issued. It is the first time the IPR work has been included independently into the Five-Year plan of the municipal government. This Plan sets some quantitative indicators, which mainly include that in the aspect of patent, there shall be up to 600 licensed patents per one million people, up to 30 licensed patents per ten thousand people; in the aspect of trademark, there shall be up to 300 thousand valid registered trademarks, 150 Chinese famous trademarks and 1,500 Shanghai famous trademarks. Moreover, the Plan definitely presents the establishment of a series of IPR operation mechanism and public service platform.
3. The Administrative Measures of Registration of Companies’ Debt-for –Equity Swap, issued by the State Administration of Industry and Commerce
On 23 November, 2011, the State Administration of Industry and Commerce issued the Administrative Measures of Registration of Companies’ Debt-for-Equity Swap (hereinafter the Measure), that will enter into force on 1st January 2012. The Measures definitely provides such three kinds of creditor’s right as those arising from a contract, a decision and retrieval can be swapped into equity, which shall be assessed and verified by a legally established asset appraisal institutions and capital verification institutions. For the debt-for-equity swap, a company shall apply the company registration authority for registration of the change of registered capital and paid-up capital.
4. The Supreme People’s Procuratorate and the Ministry of Public Security Jointly Issued the Nnew Standards for Filing Economic Criminal Cases for Investigation and Prosecution
On 21st November, 2011, the Supreme People’s Procuratorate and the Ministry of Public Security jointly issued the Second Regulations of Standards for Filing Criminal Cases under the jurisdiction of the Public Security Organs for Investigation and Prosecution (hereinafter Regulations), which provides new supplementary provisions of the standards for filing such criminal cases as the offering bribes to foreign officers and officers of international public organizations under the jurisdiction of the Public Security Organs, falsely making out invoice, and holding forged invoices. Moreover, the standards for filing the criminal case of offering bribes apply the principle of the same for the domestic and foreign crimes, and there are respectively three kinds of circumstances of falsely making out invoice and holding forged invoices shall be accepted by the Public Security Organs for investigation and prosecution.
Quoted from the Newsletter of DeBund Law Offices.
Mr. You Yunting
Founder & Editor-in-Chief of Bridge IP Law Commentary
Partner & Attorney-at-law of Shanghai DeBund Law Offices
Email: Bridge@chinaiplawyer.com, Tel: 8621-5213-4900,
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Bridge IP Law Commentary is a website focus on the introduction of commercial laws in China, especially the intellectual property laws. All the posts here are our original works. And all news or cases referred here are from public reports, and our comments or analysis are of due diligence, neutrality and impartiality, representing our own opinions only and are our original works. You may contact us shall you have any opinions or suggestions.