Tax

• Ministry of Construction, National Development and Reform Commission, Ministry of Supervision, Ministry of Finance, Ministry of Land and Resources, People's Bank of China, State Administration of Taxation, National Bureau of Statistics and China Banking Regulatory Commission, Opinions on the Adjustment of the Housing Supply Structure and Stabilization of Housing Prices

  建设部、国家发展和改革委员会、监察部、财政部、国土资源部、中国人民银行、国家税务总局、统计局、中国银行业监督管理委员会关于调整住房供应结构稳定住房价格的意见

  Issued: May 24 2006Main contents: Starting from June 1 2006, residential premises (including low-priced residential premises) with a unit floor area of…

  September 02, 2006

• State Administration of Taxation, Circular on Issues Relevant to the Levy and Collection of Individual Income Tax on Income Derived from the Transfer of Individual Residential Premises

  国家税务总局关于个人住房转让所得征收个人所得税有关问题的通知

  Issued: July 18 2006Effective: as of August 1 2006 for Article 2Main contents: When calculating the taxable income for individual income tax on income…

  September 02, 2006

• State Administration of Taxation, Official Reply to Issues Relevant to Export Tax Rebates of Export Enterprises in Bonded Zones

  国家税务总局关于保税区内出口企业出口退税有关问题的批复

  Issued: July 6 2006Main contents: In view of the fact that export enterprises in bonded zones may handle customs declaration for export business in areas…

  September 02, 2006

• General Administration of Customs, Measures for the Determination of the Dutiable Value of Imports and Exports

  中华人民共和国海关审定进出口货物完税价格办法

  Promulgated: March 28 2006 Effective: May 1 2006Main contents: The Measures comprise:Part One: General ProvisionsPart Two: Dutiable Value of Imported GoodsPart…

  September 02, 2006

• PRC Individual Income Tax Law (3rd Revision)

  中华人民共和国个人所得税法 (第三次修正)

  After the third revision to PRC Individual Income Tax Law taxable income is now the monthly income less a deduction of Rmb1,600 for expenses.

  September 02, 2006

• CEPA IV: Headlines and Fine Print

  The fourth phase of the Closer Economic Partnership Arrangement (CEPA) between Hong Kong and the PRC made headline news that trade between the two sides would be further liberalized. But is Hong Kong really given that much of a head-start?

  September 02, 2006

• Implementing Regulations for the PRC Individual Income Tax Law (Amended)

  中华人民共和国个人所得税法实施条例

  The new rules revises six aspects including increasing the deductible amount for income from contracting for or leasing the operation of enterprises or institutions and clarifying tax returns procedures while further stipulating the duties of withholding agents in relation to tax withheld on the full amount for all personnel.

  September 02, 2006

• New Measures on Foreign Investment in China Real Estate

  Prohibits direct offshore ownership structure, guaranteed fixed returns for foreign-invested real estate enterprise, and heightens scrutiny in the area of equity interests transfer and merger & acquisition in real estate-related industry.

  September 02, 2006

• China Customs Valuation:Software Exempted; E-Content and IP Royalties Still at Risk

  The new Measures notably improves protection for computer software importers and supply chains by confirming that customs import duty will not be levied on most data-processing software.

  September 02, 2006

• Measures for the Determination of the Dutiable Value of Imports and Exports

  中华人民共和国海关审定进出口货物完税价格办法

  The Measures stipulate the method of determining the dutiable value of imported goods, the transaction valuation method, elements for which the transaction value is to be adjusted and when special buyer/seller relationships are deemed to exist.

  September 02, 2006