Commercial banks allowed to extend loans for mergers and acquisitions.
New branches of wholly foreign-owned banks may be exempted from pre-payment of tax.
A new era of differentiated regulation for insurance companies.
Hong Kong and Macao investors allowed to be sole owners in the commercial sector.
“Reasonable wages and salaries” defined for enterprise income tax purposes.
Losses in partnerships not allowed to be used to deduct other companies' profits.
Shanghai offers financial incentives to multinational headquarters.
Philips Zhenyu Ding and Xiang LiRun Ming Law [email protected], [email protected] the December 2008/January 2009 issue of China Law &…
Avoidance of double taxation for Chinese enterprises investing overseas.
50% of research and development expenses can be deducted before tax.
