Promulgated: October 21 2005Effective: December 1 2005Main contents: The Circular deals with issues such as:1. delayed payments of at least 180 days and…
Promulgated: November 7 2005Effective: January 1 2006, with a transition period of three months from the effective dateInterpreting authority: Ministry…
Issued: October 13 2005Effective: October 18 2005Main contents: The quantity benchmarks of copies specified in Item(2) of the first paragraph and Item(2)…
National LegislationADVERTISING AND MARKETINGDecision on Adjusting Corresponding Articles of Relevant Advertising Regulatory Rules in Accordance with the…
Compared with previous rules regarding debt provisioning, the Measures introduces greater flexibility in making the minimum 1% of year-end balance of risk assets a guideline rather than a mandatory requirement. It changes the nature of general provisions allocated from one of pre-tax deduction to a post-tax distribution of profit. The Measures allows financial institutions to set aside two types of loan loss provisions: specific provisions and special provisions. Further requirements for other categories of the asset impairment provisions, for instance bad debt provisions and provisions for impaired long-term investments, are also in place.
Promulgated: July 6 2005Effective: October 1 2005Interpreting authority: State Administration of TaxationApplicability: Measures for the administration…
Issued: October 20 2005Main contents: Where an application by a foreign investor intending to make use of the profits from a foreign-invested enterprise…