Legislation

Priority given to registration of novel pharmaceuticals.

Definition of services provided in the PRC that are subject to business tax clarified.

Anti-monopoly review process illustrated.

Levy of VAT clarified for mixed sales.

The Guidelines list the application materials required for reporting of concentrations of business operators and set forth the permission procedure thereof.

Definition of services provided in the PRC that are subject to business tax clarified.

The Implementing Rules clarify the levy of VAT for mixed sales and the definition of "small taxpayer".

According to the Opinion, concentrations of business operators that are conducted by way of a merger shall be reported by all of the business operators that are parties to the merger.

National LegislationACCOUNTINGOpinion on Regulating and Developing Small and Medium-sized Accounting Firms 关于规范和发展中小会计师事务所的意见L3110/08.12.17ECONOMIC…