China alert - Issue 20, June 2011
The State Administration of Taxation (SAT) has issued Announcement 34 on 9 June 2011 to deal with certain Corporate Income Tax issues. In particular, Announcement 34 sets out guidelines on assessing if the interest rate for an inter-company loan is in line with loans from financial institutions. Circular 34 will take effect from 1 July 2011.
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