To follow the regulations posted yesterday:
4. The Ministry of Finance and the State Administration of Taxation issued the Notice of the Value Added Tax (VAT) Policy for Software Product (hereinafter referred to the Notice)
On 13th October, 2011, the Ministry of Finance and the State Administration of Taxation jointly issued the Notice to further define the applicable scope, applicable conditions, and the calculation of the tax refund amount and other specific details of the preferential policy for the VAT of software product. The Notice clarifies that when the general taxpayers of VAT selling the software products developed and produced by themselves, the VAT shall be charged at the rate of 17%, while the amount exceeding 3% of the actual imposed VAT shall be refunded immediately. This policy will enter into force on 1st January, 2012.
5. The loan contracts concluded by and between the Financial institutions and the small or mini enterprises will be exempted from stamp duty
On 13th October, 2011, the Ministry of Finance and the State Administration of Taxation jointly released the Notice regarding the Exemption of the Stamp Duty for Loan Contracts Concluded by and between the Financial Institutions and the Small or Mini Enterprises (hereinafter referred to the Notice). According to the Notice, upon the approval of the State Council, the loan contracts concluded by and between the financial institutions and small or mini enterprises are exempted from the stamp duty from 1st November 2011 to 31st October 2014, in order to encourage the financial institutions to support the small and mini enterprises for the development of the small and mini enterprise. The small or mini enterprises are confirmed according to the Notice of the Regulations regarding the Classification Standards of Middle and Small Enterprises jointly issued by the Ministry of Industry and Information Technology, National Bureau of Statistic of China, National Development and Reform Committee and Ministry of Finance.
6. The State Administration of Foreign Exchange issued the Experimental Guidelines for Operation Regulations and Procedures on Foreign Exchange Administration of Goods Trade ( Bank and Enterprise version) (hereinafter referred to Operation Regulations and Procedures)
According to the Announcement of the Pilot Reform of Foreign Exchange Administration System of Goods Trade issued by the State Administration of Foreign Exchange, State Administration of Taxation and the General Administration of Customs( 2011 No 2 Announcement of the State Administration of Foreign Exchange), the reform of the foreign exchange administration system of goods trade (hereinafter referred to trade foreign exchange reform) will be experimented in part regions form 1st December, 2011. On 24th October, 2011, the State Administration of Foreign Exchange released the Notices concerning the Matters Related to Pilot Reform, and additionally released the Operation Regulations and Procedures for the details of operation process.
7. The German Chamber of Commerce in China released the report of the Annual Wage Survey 2012
The German Chamber of Commerce in China recently released the report of the Annual Wage Survey 2012. The survey covers 76 Germany enterprises in Pearl River Delta and the North China, which shows that German companies are still confident about business growth in China. About 2/3 of respondent companies expect to hire new workers in 2012, although the figure is lower than 2011. On the other hand, the labor costs on average are expected to raise around 10% in the next year, though uncertainty in regards of the economic outlook persists.
Quoted from the Newsletter of DeBund Law Offices.
Introduction on Bridge IPR Commentary:
Mr. You Yunting
Founder & Editor-in-Chief of Bridge IP Commentary
Partner & Attorney-at-law of Shanghai DeBund Law Offices
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