China Newsletter | October 2014
New regulations to boost corporate transparency in China
In an effort to improve organizational transparency, the PRC government issues a new regulation on disclosure of corporate information which will encourage public reporting and restrict the interference of authorities to monitoring of information disclosure.
>> More details about the regulation
China taking measures to boost small profit businesses
Circular 71 provides for the exemption of temporary value-added tax and business tax for low-profit companies by the threshold for exemption qualification from RMB 20,000 to RMB 30,000 of the monthly sales proceed.
>> Learn moreabout the expansion of tax exemption scope.
China extends corporate income tax incentives for western region
Starting October 1, 2014, more industries and regions in the western part of China can benefit from the reducedcorporate income tax at the rate of 15%, where as the standard tax rate is 25%.
>> To find out which businesses are eligible for the reduced tax rate, read more.
Regulations of China (Shanghai) Pilot Free Trade Zone released
Almost one year ago the Shanghai Free Trade Zone has been launched with a legal framework, ought to support the economic development, but leaving investors confused by the amount of lose stipulations instead. From August 2014 this is now different. The first basic law of the Shanghai Free Trade Zone is issued.
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