Legislation

Stricter criteria for sale of investment-type insurance by property insurance companies

VAT system changed from production-based to consumption-based.

According to the revised Regulations, the amount of consumption tax payable may be calculated ad valorem, at a flat rate or by a combination of the two.

Calculation of business turnover for business tax purposes revised.

National Legislation ACCOUNTINGChinese Institute of Certified Public Accountants, Guidelines on Audits Designated for Recognition of High-tech Enterprises…

State Council issues 30 measures to boost the economy.

Conversion of unlisted foreign investment shares into tradable B-shares streamlined.

The Provisions allow securities companies to engage in margin trading and short sale of securities.

The Circular elaborates matters concerning the Provisions for the Administration of the Solvency of Insurance Companies.