NEW TAX LAW EXPECTED IN MARCH

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clpstaff &clp articles

Chinese tax officials say that they will submit their unified draft tax legislation to parliament in March 2007. The revisions were reviewed by lawmakers…

Chinese tax officials say that they will submit their unified draft tax legislation to parliament in March 2007. The revisions were reviewed by lawmakers in December 2006, according to official sources.

While some foreign companies have complained of a lack of transparency in drafting the new legislation, tax officials say that they have consulted a wide range of views. "We have extensively solicited opinions and advice especially the opinions of foreign businesses in China," says Wang Li, the deputy director of the State Administration of Taxation.

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