State Administration of Taxation (“SAT”) released Announcement [2014] No. 46  on August 1 announcing that the Agreement between the  government of the  People's Republic of China and the  government of the Kingdom of the  Netherlands for the Avoidance of Double Taxation and the Prevention of Fiscal  Evasion  regarding Taxes on Income and its Protocols were signed in Beijing on  May 31, 2013. The two countries announced on July 30, 2013, and July 14, 2014,  respectively, that the legal procedures  had been  completed for the Agreement  and  its protocols to become effective.  Under paragraph 1  article 29 of the  Agreement, the Agreement and  its protocols  became effective  on  August 31,  2014, and will apply to all income obtained after January 1, 2015.

In addition to its tax treaty with the Netherlands, China amended recently its old tax treaties with Belgium, France, Germany, Russia and the United Kingdom.