FIEs now enjoy same property tax rates as domestic companies.
Losses in partnerships not allowed to be used to deduct other companies' profits.
FIEs required to calculate property taxes in renminbi.
“Reasonable wages and salaries” defined for enterprise income tax purposes.
Avoidance of double taxation for Chinese enterprises investing overseas.
50% of research and development expenses can be deducted before tax.
New branches of wholly foreign-owned banks may be exempted from pre-payment of tax.
The Circular addresses the issues of wages and salaries, total payroll, and deduction of employee benefit expenses.
The Shanghai government has announced a set of incentives to attract more multinational companies to establish their headquarters in the city. By Laura Yuan, King & Wood.
Luigi Bendi and Gianluca D'AgnoloChiomenti Studio [email protected], [email protected] tax (IRES)Taxable persons: All…