Tag Archives: the National Development and Reform Commission

Chinese Latest Laws and Regulations of September 2012, I

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I. The General Office of the State Council Issued Several Opinions on Promoting Steady Growth of Foreign Trade.

The General Office of the State Council issued the Several Opinions on Promotion of Steady Growth of Foreign Trade of the General of Office of the State Council (the “Several Opinions”) on 18, September, 2012, which provide 16 opinions to promote steady growth of foreign trade in 2012, including doing well with export tax refund and financial service, developing trade facilitation, improving trade environment, optimizing the trade structure and other areas. And the policies of export tax refund and export credit insurance are the hot issues attracting the attentions. The experts said the following detail implementation measures and provisions would be promulgated soon for the implementation of the Several Opinions.

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Latest Laws and Regulations of August 2012, II

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V. The State Administration of Taxation Issued Measures for Administration of Enterprises Income Tax on Incomes from Policy-based Relocation.

Recently, the State Administration of Taxation issued the Measures for Administration of Enterprises Income Tax on Incomes from Policy-based Relocation (hereinafter referred to as the “Measures”), which take into effect on 1st of October, 2012, meanwhile, the Notice of the State Administration of Taxation on Relevant Issues Concerning the Enterprise Income Tax on Incomes from Policy-based Relocation or Disposal of Assets (Guo Shui [2009]118) was abolished. The Measures define the income, expenses, taxation treatment of asset and others concerning relocation. The policy-based relocation of an enterprise refers to an enterprise wholly or partly relocates according to the lead of the government in consideration of the requirements of social public interests, such as diplomacy, the implementation of energy, water conservation, transportation and other public utilities and affordable housing project and so on.

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Latest Laws and Regulations of August 2012, I

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I. Eight Provinces Including Beijing will gradually Develop the Pilots to be Levied VAT Instead of Business Tax from 1st of August, 2012.

The Ministry of Finance and State Administration of Taxation jointly issued the Notice on Developing the Pilots to be Levied VAT Instead of Business Tax in Transportation Industry and Partly Modern Services Industry in 8 Provinces or Cities including Beijing (hereinafter referred to as the “Notice”) on 31st of July, 2012. According to the Notice, upon the approval of the State Council, the range of pilots is extended to Shanghai, Beijing, Tianjin, Jiangsu, Anhui, Zhejiang, Fujian, Hubei and Guangdong. The transition of such tax policy shall be completed before 1st of September, 2012 in Beijing, 1st of November, 2012 in Fujian and Guangdong and 1st of December, 2012 in Tianjin, Zhejiang and Hubei. The pilot plan is basically the same as that of Shanghai. On 10th of August, 2012, the State Administration of Taxation published the Announcement on Relevant Issues concerning Qualification Verification of a General VAT Taxpayer in 8 Provinces and Cities Including Beijing Developing Pilots to be Levied VAT Instead of Business Tax.

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New Chinese Laws and Regulations of January, 2012 (1)

Today, Bridge IP Law Commentary will introduce you the latest regulations and policies in China.

I. The Pilot Enterprises Levied Value-added Tax (VAT) in Lieu of Business Tax

Whose Tax Bearing are Increased can Apply for Financial Support in Shanghai

Recently, according to the Meeting on Pilot Reform of Levying VAT in Lieu of Business Tax, the Shanghai government has made the detailed implementation measures for transitional financial support policy mainly includes “enterprises shall apply in accordance with facts, various financial supports for various enterprises, and timely funds pre-allocation”. The finance and taxation departments shall arrange the pilot enterprises fill the Declaration (Review) for Changes of Tax Bearing by Enterprises Levied VAT in Lieu of Business Tax when they conduct pilot enterprises to declare for the tax and collect the tax. The pilot enterprises can, comparing the current tax bearing with that before reform, apply to the finance and taxation departments for financial support if the actual tax bearing is ultimately increased.

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