Tax

When an enterprise derives revenue from the transfer of property, etc., it shall include all of the revenue in the year that is recognised to be the year in which such revenue is derived.

Tax should be paid in one year for income derived from property transfer.

FIEs required to pay urban maintenance and construction tax and education surcharge from December 1 2010.

It's been a busy year for tax authorities in 2010 and next year will be no different. Foreign companies are no longer privy to preferential tax treatments and non-resident enterprises can expect tightening on indirect equity transfers, treaty benefits and transfer pricing audits

Concentrate on tax policy transparency and consistent enforcement

Thresholds for preferential property-related tax policies raised.

Circular puts an end to FIEs' super national treatment.

Guangzhou imposes age restriction on purchase of property.

Shanghai restricts purchase of residential premises to only one more unit.