Recent legislative activities from China
Return of leaseholds exempted from business tax.
Foreign enterprises pay income tax according to the Gregorian calendar year.
Threshold for recognition as material asset reorganizations raised.
Criteria for board resolution on material asset reorganization further detailed.
33 types of documents required for information disclosure for material asset reorganizations.
Credible import/export enterprises exempted from customs inspection.
Commercial banks allowed to engage in gold futures trading.
Securities investment fund management companies allowed to establish organizations in Hong Kong.
Stricter recognition standards for hi-tech enterprises.
