Tax

• PRC Individual Income Tax Law (4th Revision)

  中华人民共和国个人所得税法 (第四次修正)

  Tax law revised to allow reduction and waiving of tax on savings interest.

  July 02, 2007

• Ministry of Finance and State Administration of Taxation, Circular on Reduction of Export Tax Rebate Rates of Certain Commodities

  财政部、国家税务总局关于调低部分商品出口退税率的通知

  Export tax rebate rate for garments dropped to 11%.

  July 02, 2007

• State Administration of Taxation, Official Reply on the Issue of the Income Tax Treatment of Sale-leaseback Transactions by Foreign-invested Enterprises that Engage in Real Property Development

  国家税务总局关于从事房地产开发的外商投资企业售后回租业务所得税处理问题的批复

  Tax policy on sale-leaseback transactions by foreign-invested real property developers clarified.

  July 02, 2007

• State Administration of Taxation, Official Reply on Tax Issues Concerning the Assignment of Land for Which the Formalities Relevant to the Leasehold Certificate Have Not Yet Been Completed

  国家税务总局关于未办理土地使用权证转让土地有关税收问题的批复

  Taxes on assignment of land should be paid regardless of completion of formalities.

  July 02, 2007

• State Administration of Taxation, Circular on Issues Relevant to the Enjoyment of Preferential Treatment as Production Enterprises by Foreign Investors Investing in and Operating Natural Gas Projects

  国家税务总局关于外商投资经营天然气项目享受生产性企业有关问题的通知

  Income from the processing and sale of natural gas entitled to preferential tax treatment.

  July 02, 2007

• Other Recent Legislation for this Month

  National LegislationBANKINGMeasures for the Administration of the Report of Transactions Suspicious of Terrorist Financing by Financial Institutions金融机构报告涉嫌恐怖融资的可疑交易管理办法L3610/07.06.11Measures…

  July 02, 2007

• China VAT Export Rebate Cuts: Impact on Sourcing&Trade Imbalances

  Many exports from China are subject to higher net value-added tax (VAT) costs under a notice effective from July 1 2007.

  July 02, 2007

• State Administration of Taxation, Circular on Issues Relevant to the Payment of Enterprise Income Tax by Foreign-invested Enterprises Engaging in Telecommunications Business

  国家税务总局关于从事通信业务的外商投资企业缴纳企业所得税有关问题的通知

  Time limits for depreciation of telecommunications equipment adjusted.

  July 02, 2007

• China VAT Export Rebate Cuts: Impact on Sourcing&Trade Imbalances

  Many exports from China are subject to higher net value-added tax (VAT) costs under a notice effective from July 1 2007.

  July 01, 2007

• Ministry of Finance and State Administration of Taxation, Circular on Tax Policies Relevant to Promoting the Development of Venture Capital Investment Enterprises

  财政部、国家税务总局关于促进创业投资企业发展有关税收政策的通知

  Tax reduction for venture capital investment enterprises investing in unlisted technology SMEs.

  June 02, 2007