Circular of the People’s Bank of China on Relevant Issues Concerning Commercial Banks’ Application for Engaging in the Entrusted Business of Investment of Securities within China by Qualified Foreign Institutional Investors
All the branches and the business and managerial departments of the People’s Bank of China， all the wholly state-owned commercial banks and the joint stock commercial banks：
In order to support the implementation of the Interim Measures Governing the Investment of Securities within China by Qualified Foreign Institutional Investors （Decree [2002] No.12 of the China Securities Regulatory Committee and the People’s Bank of China， hereinafter referred to as the Measures）， relevant issues concerning commercial banks’ application for engaging in the entrusted business of investments of securities within China by qualified foreign institutional investors （“QFII”） are notified as follows：
Read more…
Circular of the State Administration of Taxation on the Relevant Executive Standards for the Individual Income Tax Exemption of Family Visit Expenses Obtained by Foreign Individuals
Taxation bureau of every province, autonomous region, municipality directly under the Central Government and municipality separately listed on the State plan:
Recently, we have received some reports that, in accordance with Article 4 of the “Circular of the State Administration of Taxation on the Execution of the Individual Income Tax Exemption for Relevant Subsidies Obtained by Foreign Individuals,”(GuoShuiFa [1997] No.54) if the individual income tax on family visit expenses obtained by a foreign individual is to be exempted, the taxpayer shall provide documents (duplicates) on the payment for his or her travel to visit family, and such documents shall be examined by the competent taxation organ. The individual income tax may be exempted for the actual expenses for family visits, as well as for a reasonable portion of the standard governing the expenses and occurrence of annual family visits. However, in the execution of the law, it is necessary to further clarify “the reasonable portion of the standard governing the expenses and occurrence of annual family visits.” This issue is hereby addressed uniformly as follows:
Read more…
Circular of the General Administration of Customs, the Ministry of Foreign Trade and Economic Cooperation, the State Administration of Taxation, the State Administration for Industry and Commerce, the State Administration of Foreign Exchange, the State Bureau of Quality and Technical Supervision on Examining the Subscriber’s Qualification to Use Electronic System for Executing Laws at Ports Throughout the Country
General Administration of Customs (GAC) Guangdong branch, each custom directly under GAC, branch of the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) in each province, each autonomous region, and municipality directly under the Central Government; State Administration of Taxation (SAT), State Administration for Industry and Commerce (SAIC), State Administration of Foreign Exchange (SAFE), State Bureau of Quality and Technical Supervision (SBQTS):
Read more…
Circular of the State Administration of Foreign Exchange and the General Administration of Customs on Launching a Pilot Project for Network Examining the Verification of Export Collection in Foreign Exchange by Electronic System for Executing Laws at Ports
Shanghai, Tianjin, and Guangzhou Branch of the State Administration of Foreign Exchange (hereinafter SAFE), Beijing Department of the SAFE, Guangdong Branch of the General Administration of Customs (hereinafter GAC), and each Customs directly under GAC:
Read more…
Circular of the State Administration of Taxation Concerning Non-pursuance of the Construction Fees of Cultural Undertakings of the Year 1997 which shall have been Paid by Enterprises with Foreign Investment or Foreign Enterprises
Read more…
Circular of State Administration of Taxation for Relevant Issue Concerning Purchase and Use of Invoices by Agencies in China of Foreign Law Offices
The state taxation bureaus and local taxation bureaus of provinces, autonomous regions, municipalitie directly under the Central Government and municipalities separately listed on the State plan:
Ministry of Justice recently pointed out that, the business of agencies in China of foreign law offices is different from those of permanent agencies of other enterprises since the former agencies are allowed to operate to the extent prescribed by State policies after registration in State Administration for Industry and Commerce. Ministry of Justice also proposed to provide uniform tax invoices for such agencies on the ground that it is inconvenient for the foreign law offices to conduct normal business due to the same taxation administration as that of permanent agencies of general foreign enterprises currently. After consideration, we clarify the relevant issue as follows:
Read more…
Circular of the Ministry of Finance and the State Administration of Taxation Concerning the Issue of Tax Credit for Business Income Tax for Homemade Equipment Purchased by Enterprises with Foreign Investment and Foreign Enterprises
The finance departments (bureaus), the state taxation bureaus and local taxation bureaus of all the provinces, autonomous regions, municipalities directly under the Central Government and municipalities separately listed on the State plan:
The Circular of the Ministry of Finance and the State Administration of Taxation concerning the Issue of Tax Credit for Enterprise Income Tax for Homemade Equipment Purchased by Enterprises with Foreign Investment, is issued as follows to carry out the spirit of the relevant regulations stipulated by the Central Committee of the Communist Party of China and the State Council, enlarge the introduction of foreign investment, and encourage enterprises with foreign investment and foreign enterprises to use homemade equipments:
Read more…
Announcement of the General Administration on Relevant Issues Concerning the Merger and Division of Enterprises with Foreign Investment and Related Customs Administration Issues
Pursuant to the Provisions on the Merger and Division of Enterprises with Foreign Investment (WaiJingMaoFaFa [1999] No.395) promulgated as of September 23, 1999 by the Ministry of Foreign Trade and Economic Cooperation and the State Administration for Industry and Commerce, relevant issues concerning customs administration are announced as follows:
Read more…
Measure Registering Adoption of Children by Foreigners in the People’s Republic of China
Article 1 These Measures are formulated in accordance with the Adoption Law of the People’s Republic of China in order to regularize foreign-related adoption registration practice.
Article 2 If foreigners attempt to adopt children within the territory of the People’s Republic of China (hereinafter referred to as adoption of children by foreigners in China), they shall undertake registration according to these Measures.
If a couple, one of whom is a foreigner, attempts to adopt children in China, they also shall undertake registration according to these Measure.
Read more…
Interim Provisions on Import Taxes on Articles Taken Into China by Foreigners Permanently Residing in China
Article 1 These Provisions reformulated in order to implement opening-up policy, strengthen international exchange and promote the development of foreign trade and economy.
Article 2 For permanent resident offices established by foreign enterprises, news agencies, economic and trade organizations, cultural associations and foreign legal persons upon approval by competent departments of the People’s Republic of China, if their permanent residents such as foreign citizens, overseas Chinese and dwellers form Hong Kong, Macao and Taiwan (including their spouses and minor children living with them) as well as other permanent residents (hereinafter referred to as permanent residents), who have been allowed to enter into China and have lived in China for more than one year, import articles for self use, these Provisions shall be applied. These persons include:
Read more…
Recent Comments