China has revised and issued new accounting standards, bringing the country's financial reporting system for listed companies in line with international practices.
National LegislationBANKINGGuidelines for Corporate Governance and Related Regulation of State-owned Commercial Banks国有商业银行公司治理及相关监管指引L3610/06.04.18CONSTITUTION…
Issued: May 10 2006Applicability: In the event of a conflict between this Circular and past provisions, this Circular shall prevail (Article 4).Main contents:…
The scope of enterprises eligible for tax refunds on the purchase of domestically-manufactured equipment includes foreign-invested enterprises that are ordinary payers of value-added tax or engage in transport business or the development of ordinary housing.
National LegislationBANKINGTentative Measures for the Administration of the Information Disclosure of Trust and Investment Companies 信托投资公司信息披露管理暂行办法L3610/06.01.05ENVIRONMENTAL…
Issued: March 14 2006Main contents: The Circular clarifies the criteria for determining permanent establishments. clp reference:3210/06.03.14promulgated:2006-03-14
New PRC legislation encourages and supports a broad range of renewable energy and related products and activities, in pursuit of energy supply diversity and security, environmental protection and sustainable development. Promotion of domestic manufacturing may leave foreign equipment exporters out in the cold, while foreign investors and technology providers stand to benefit from incentives and an expanding market.
With regard to tax agreements entered into by China with foreign states, the term 'permanent establishment' shall be deemed not to include the maintenance of a fixed place of business solely for the purpose of carrying on, for the enterprise, any activity of a preparatory or auxiliary character.
Issued: January 17 2006Main contents: The following enterprises may, in accordance with provisions, apply for consolidated tax payment: (1) the 120 large-scale…
Issued: September 14 2005Main contents: Before the issue of new provisions from the State Council, the Circular on Not Levying Urban Maintenance and Construction…