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  • China Tax Weekly Update - Issue 8

China Tax Weekly Update - Issue 8

China Tax Weekly Update - Issue 8

Issue 8, March 2016

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China Tax Weekly Update

The following matters are covered in this issue:

  • VAT reform fully implemented from 1 May 2016 and effective tax burden of all industries shall be reduced
  • Global tax cooperation reaches new high. All non-G20 countries and jurisdictions are invited to join
  • State Council eliminates tax pre-approvals and amends foreign investment procedures for telecoms and insurance sectors (State Council Order No. 666)
  • The State Council issues provisions to facilitate the transformation of scientific and technological results (Guo Fa [2016] No.16)
  • Incentives for state-owned science and technology enterprises expanded to whole country (Cai Zi [2016] No. 4)
  • SAT implements the State Council’s decision on cancellation of 152 administrative approval items (Shui Zong Fa [2016] No. 23 / SAT Announcement [2016] No. 10)
  • State Council collates and standardizes the 2nd batch of 192 administrative approval items which involve intermediary services (Guo Fa [2016] No. 11) 
  • SAT’s replies on tax-related suggestions and proposals from NPC and CPPCC
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© 2022 KPMG Huazhen LLP, a People's Republic of China partnership, KPMG Advisory (China) Limited, a limited liability company in Mainland China, KPMG, a Macau (SAR) partnership, and KPMG, a Hong Kong (SAR) partnership, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation.

For more detail about the structure of the KPMG global organisation please visit https://home.kpmg/governance.

京ICP备12028186号-1
京公网安备11010102003233号

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