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
Tax
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, 2006The 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, 2006The 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, 2006Prohibits 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, 2006The 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, 2006The 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, 2006On August 21 2006, Hong Kong and China signed The Arrangement for the Avoidance of Double Taxation on Income & Prevention of Fiscal Evasion (Arrangement),…
September 01, 2006Promulgated: March 31 2006Effective: as of date of promulgationInterpreting authorities: Ministry of Commerce in conjunction with Ministry of Finance,…
July 02, 2006Issued: June 6 2006Effective: June 1 2006Main contents: From June 1 2006, business tax will be imposed on sales of residential premises of less than five…
July 02, 2006