Circular of the State Administration of Foreign Exchange on Simplifying the Procedures of Purchase and Payment of Foreign Exchange for Technology-introduction by Enterprises with Foreign Investment
Branches of the State Administration of Foreign Exchange, Departments of Foreign Exchange of Beijing and Chongqing, Branches of Foreign Exchange of Dalian, Qingdao, Ningbo, Xiamen, Shenzhen, Assigned banks of foreign exchange with Chinese investment:
In accordance with relevant regulations of the State Council, SAFE will amend the existing “Circular on Strengthening the Administration on the Purchase and Payment of Foreign Exchange for Intangible Properties” (HuiGuanHanZi [98] No.092)(hereafter “the Circular”) in order to simplify the purchase and payment in foreign exchange for technology-introduction by enterprises with foreign investment as follows:
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Supplementary Circular of the State Economic and Trade Commission, the Ministry of Foreign Trade and Economic Cooperation and the General Administration of Customs on Adjusting Commodity Lists of the First Batch of Import Product of Processing Trade in Restriction
The Economic and Trade Commission and Foreign Trade Committee of the provinces, autonomous regions, municipalities directly under the Central Government, municipalities separately listed on the State plan and production and construction crops of Xinjiang, Guangdong branch of the General Administration Customs, customs directly under the General Administration of Customs and relevant departments of State Council:
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Administration of Tax Rebates on the Purchase of Domestically-Manufactured Equipment by Foreign Investment Enterprises Trial Procedures
Article 1 These Procedures have been formulated to encourage foreign investment enterprises to use domestically-manufactured equipment, clarify duties and operational procedures and standardize operation in accordance with the law.
Article 2 The State Tax Bureau of the place where the foreign investment enterprise is located shall, in accordance with regulations, be responsible for registration of the domestically-manufactured equipment, refunding tax, oversight and reconciliation.
PART TWO SCOPE OF AND CONDITIONS FOR TAX REFUND ELIGIBILITY
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Circular of the General Administration of Customs on Releasing the Measures of the Customs of the People’s Republic of China for the Administration of Third Place Processing Trade
Guangdong Customs Bureau and all customs bureaus directly under the General Administration of Customs:
In order to implement the Circular of the General Office of the State Council on Transmitting the Comments by the State Economic and Trade Commission and Other Relevant Governmental Agencies on Further Improving the Deposit Account System for Processing Trade (GuoBanFa [1999] No.35), the General Administration of Customs has drawn up the Measures of the Customs of the People’s Republic of China for the Administration of Third Place Processing Trade, which, as released hereby, shall be promulgated as Decree No.74 of the General Administration of Customs of the People’s Republic of China. Some relevant issues are clarified as follows:
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Circular of the Import and Export Bank of China on Supporting the Export of High-New Technologic Products
With a view to implementing the strategy of revitalizing China through science and education, promoting vigorously the improvement of science and technology, strengthening the innovation of the technology, and supporting the exportation of high and new-technology on effort, Circular of the General Office of the State Council Concerning Transmitting the Opinions of the Ministry of Foreign Trade and Economic Cooperation and Other Relevant Departments on Taking Further Measures to Encourage the Expansion of the Exportation (GuoBanFa [1999] No.71) has decided that Import and Export Bank of China will enlarge the business scope of export credit and favorable loans as to include the exportation of high new technology product. Hereby notify the relevant matters as follows:
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Circular of the General Office of the Ministry of Foreign Trade and Economic Cooperation and the General Office of the Ministry of Science and Technology on Transmitting the Circular on the Implementation of Interest Rate for Export Credit of High/new Technological Products
Foreign trade and economic cooperation commissions (departments, bureaus) and commissions of science and technology of the various provinces, autonomous regions, municipalities directly under the Central Government and municipalities separately listed on the State plan, Shenyang, Suzhou, Wuhan, Nanjing, Guangzhou, Chengdu and Xi’an City, and foreign trade and economic enterprises managed by the Central Government:
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Circular of the State Administration of Foreign Exchange on Amending “Circular on Issues Concerning Outward Remittance of Profit, Stock Dividends and Stock Bonuses Processed by Designated Foreign Exchange Banks”
All branch of State Administration of Foreign Exchange,foreign exchange department of Beijing and Chongqing, sub-branch of Dalian, Qingdao, Ningbo, Xiamen, Shenzhen, all the China-invested designated foreign exchange banks:
To further improve foreign exchange administration of the outward remittance of profits, stock dividends or stock bonuses by enterprises with foreign investment or by enterprises issuing stock abroad, the “Circular on Issues Concerning Outward Remittance of Profits, Stock dividends and Stock Bonuses Processed by Designated Foreign Exchange Banks” (hereinafter referred to as “the Circular”) is amended as follows.
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Circular of the State Administration of Taxation on the Implementation of Business Income Tax Preference at a Reduced 15% Tax Rate within Three Years for Enterprises with Foreign Investment in Central and Western Areas
The state bureaus of taxation of various provinces,antonomous regions,municipalities directly under the Central Government and municipalities separately listed on the State plan, local taxation bureau of ShenZhen:
Recently, the State Council has decided that, within three years after the expiry of the period of implementation of the current tax preference policy, the business income tax may be collected at a reduced 15% tax rate from the enterprises with foreign investment under the State’s category of incentives which are established in the central and western areas. Relevant issues concerning the implementation of this tax preference policy are notified as follows:
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Invatation and Submission of Bids Law of the People’s Republic of China
Contents
Chapter 1 General Provisions
Chapter 2 Invitation of Bids
Chapter 3 Submission of Bids
Chapter 4 Opening of Bids, Evaluation of Bids and Determination of the Winning Bidder
Chapter 5 Legal Liability
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The 11th Meeting of the Standing Committee of the Ninth National People’s Congress has decided to amend the Individual Income Tax Law of the People’s Republic of China as follows:
1.”Interest on savings deposits” in Paragraph 2 of Article 4 is deleted.
2.One article is added as Article 12:” The time for imposing individual income tax on income derived from interest on savings deposits and the methods for its imposition shall be formulated by the State Council.
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