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Chinese expends bribery convictions check in the national-wide database
- Greenberg Traurig LLP
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- China
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- April 2 2012
On February 16, 2012, China’s Supreme People’s Procuratorate (SPP) officially announced that a database listing individuals and companies found guilty of certain bribery offenses now has nationwide scope
Ministry of Finance issues new rules on deed taxes
- Greenberg Traurig LLP
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- China
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- April 2 2012
On January 12, 2012, the Ministry of Finance (MOF) and the State Administration of Taxation (SAT) jointly released the Notice On Deed Tax Policies related to Reorganization and Restructuring of Enterprises and Public Institutions (the “Deed Tax Notice”
Shanghai VAT pilot program: zero rate and exemption
- Greenberg Traurig LLP
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- China
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- April 2 2012
Following the promulgation of two circulars on the pilot project for replacing the imposition of business tax with value-added tax in Shanghai (Circular No. 110 and Circular No. 111), the Ministry of Finance (MOF) and the State Administration of Taxation (SAT) have jointly released the Circular on Zero Value-Added Tax Rate and Tax Exemption Policy Applicable to Taxable Services (the “VAT Circular”
Twelfth Five-Year (2011-2015) plan for medical device and equipment industry
- Greenberg Traurig LLP
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- China
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- April 2 2012
The PRC Ministry of Science and Technology (MOST) issued the Twelfth Five-Year (2011-2015) Specific Plan for Medical Device and Equipment Industry (the “Medical Plan”) on January 19, 2012
Companies are urged to pay social insurance for expatriate employees
- Greenberg Traurig LLP
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- China
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- April 2 2012
On December 2, 2011, the Ministry of Human Resources and Social Security (MHRSS) released the Circular on Several Matters concerning the Better Enforcement of Social Insurance Programs for Expatriate Employees in China (Circular No. 113, the “Social Insurance Circular”), urging PRC companies to complete registration of their expatriate employees in China’s social insurance schemes
China deals with non-declared business concentrations
- Greenberg Traurig LLP
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- China
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- April 2 2012
On December 30, 2011, the Ministry of Commerce (MOFCOM) promulgated the Interim Measures for Investigation and Handling of Failure to Report the Concentrations of Business Operators in Accordance with the Law (the “MOFCOM Interim Measures”), which took effect on February 1, 2012
SAT clarifies VAT treatment for sale of self-used fixed assets
- Greenberg Traurig LLP
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- China
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- April 2 2012
On January 6, 2012, the State Administration of Taxation (SAT) issued the Announcement on Issues Relating to Value-Added Tax of Selling the Self-used Fixed Assets by General Taxpayers (the “VAT Announcement”), which became effective on February 1, 2012
SAIC standardizes the registration of mergers and restructuring
- Greenberg Traurig LLP
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- China
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- February 10 2012
On November 28, 2011, Opinions on Completing Corporate Merger and Division Registration to Support Corporate Merger and Restructuring (the “Registration Opinions”) was issued by the State Administration for Industry and Commerce (SAIC), three months after draft Registration Opinion were released
Qualifications of general VAT taxpayers in the pilot program
- Greenberg Traurig LLP
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- China
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- February 10 2012
Following the promulgation of two circulars on the pilot project for replacing the imposition of business tax with value-added tax (Circular No. 110 and Circular No. 111) in the transport industry and certain modern service sectors in Shanghai, China’s State Administration of Taxation (SAT) issued the “Matters Relating to the Determination of the Qualifications of General VAT Taxpayers in the Pilot Program for the Collection of VAT in Replacement of Business Tax in Shanghai” (Circular 2011 No. 65, the “Qualification Circular”)“on December 2, 2011
MOFCOM revises the filing regime for commercial franchisors
- Greenberg Traurig LLP
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- China
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- February 10 2012
On December 12, 2011, the Ministry of Commerce (MOFCOM) released an updated version of the Administrative Rules on the Filing of Commercial Franchisors (the “Franchising Rules”
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- Firm Name - Greenberg Traurig LLP
- Author - Thomas S. Loo