New consumption tax draft law puts State Council center stage; major mobile apps caught for illegal data collection practices; and NPC launches online platform for submitting constitutional review requests
New tax incentives are issued for Chinese software and integrated circuitry companies, as international companies withdraw from Huawei's supply chain under U.S. pressure; former head of the CSRC, Liu Shiyu, is facing a likely corruption investigation; and China's private equity sector comes under CSRC scrutiny, with warnings issued to several firms.
Central banks is expected to increase easing measures in the financial sector; Industry regulator calls for P2P lenders to register and consolidate; and trade war with the U.S. may cause delay of China's planned property tax legislation.
Ericsson faces investigation over its intellectual property licensing practices; investors in CDRs of innovative enterprises will enjoy a three-year tax break on profits; and China issues a new rule to improve the supervision of elderly care services.
David Liu and Tianxiao Jin of FuJae Partners examine the major amendments to the
Individual Income Tax Law, its Implementing Regulations and new supplemental tax circulars, and
their impact on expatriate taxpayers