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MOF Outlines Tax-cut Map for 2012

The Minister of Finance Xie Xuren said that China will lower tariffs on certain imported goods to increase imports of energy, resources, high-tech equipment and key components. He also stated that tax preferential policies aimed to ease burdens on micro-and-small-enterprises, including lift threshold of VAT and Business Tax, will be further implemented next year.


Revised Foreign Investment Guide Released

The Ministry of Commerce and the National Development and Reform Commission (NDRC) issued the revised Foreign Direct Investment Industry Guidelines (2011). According to the Guidelines, foreign companies are encouraged to invest in a greater number of industries and reduce the number of industries that are off limits to such investment. The Guidelines takes effective from 30 January 2012, while the old version – Foreign Direct Investment Industry Guidelines (2007 revised) – expires at the same date.


120,000 Shanghai Enterprises to Pilot VAT Reform

A senior official of Shanghai Municipal Administration of State Taxation said at a taxation-policy-interpretation meeting that it is expected that about 120,000 Shanghai-based enterprises will be included in the scope of ‘Replacing Business Tax with VAT’ reform and, ‘the majority of them are small-sized taxpayers’.



“China Accounting News Weekly” is established on August 5, 2005. It selects important accounting news weekly to convenient the  people can acknowledge the developments quickly. From its launching, thousands of people read it every week.
In order to promote the development of China accounting industry to English readers, we make this English edition on March 23, 2007. If there are any problems, please contact with qiaobocao@snai.edu.

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