怎能造句China T ax & Investment Express China Tax Center China Tax & Investment Express (CTIE) * brings
you the latest tax and business announcements on a weekly basis. CTIE provides a synopsis of each announcement including a weblink that leads you to the full content of the announcement (in Chine). Plea feel free to contact your Ernst & Young client rvice professionals for further assistance if you find the announcements have an impact on your business operations.
This CTIE does not replace our China Tax & Investment News *
which will continue to be prepared and distributed to provide more in-depth analys of tax and business developments in China.
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T ax circulars
森林防火内容►Notice regarding administrative issues after the cancellation of certain tax-related administrative approval items (SAT Announcement [2015] No. 56) Synopsis
Further to Guofa [2015] No. 27 (“Circular 27”, i.e., Notice regarding the abolition of certain non-administrative approval items including certain tax-related approval items), on 3 August 2015, the State Administration of Taxation (SAT) relead SAT Announcement [2015] No. 56 (“Announcement 56”) to specify the relevant follow-on administrative matters. (Plea refer to China Tax & Investment News Issue 2015005 and CTIE2015020 for details of Circular 27.)
Key features of Announcement 56 are as follows (plea click the circular no. in the table below to access the full content of the respective circular):
Our obrvations
Circular 27 eliminates 19 tax-related administrative approval items. Since the items are no longer subject to approval by tax authorities, the tax authorities now shift the focus of the tax administration to post-transaction inspections. Prior to the issuance of Announcement 56, the SAT relead a few circulars to specify the follow-on administration for certain specific tax-related administrative approval items that were removed by Circular 27
(plea click the circular no. in the table below to access the full content of the respective circular):
However, the follow-on administration for the cancellation of approval for non-residents’ eligibility for tax treaty benefits (item 45 of Circular 27) is not yet specified in either Announcement 56 or the abovementioned风劲角弓鸣
circulars. Taxpayers eligible for tax treaty benefits should consult with their supervising tax authorities to confirm the current tax administrative requirements. If in doubt, consultations with tax professionals are always recommended.
You can click this link to access the full content of Announcement 56:
v/n810341/n810755/c1758741/content.html
You can click this link to access the full content of the Interpretation of Announcement 56 from the SAT: v/n810341/n810760/c1758824/content.html
You can click this link to access the full content of Circular 27:
/zhengce/content/2015-05/14/content_9749.htm
►Notice regarding the establishment of cooperation mechanism between banks and tax authorities to support the development of small and micro-sized enterpris (SMEs) (Shuizongfa [2015] No. 96)
Synopsis
On 30 July 2015, the SAT relead Shuizongfa [2015] No. 96 (“Circular 96”) to launch the cooperation mechanism between banks and tax authorities (hereinafter referred to as the “cooperation mechanism”) on a nationwide basis to support the development of SMEs.
According to Circular 96, tax authorities at the local level, competent departments under the China Banking Regulatory Commission (CBRC) and banks shall jointly establish the cooperation mechanism by the third quarter of 2015. Under the cooperation mechanism, the tax credit evaluation results of SMEs shall be properly shared between tax authorities, competent departments under the CBRC and banks. Banks shall conduct due diligence on SMEs recommended by tax authorities and simplify the approval procedures of debt financing program for qualifying SMEs. Financing rvices provided to SMEs shall be improved bad on their tax credit evaluation results. On the other hand, data related to financing rvices provided to SMEs shall be reported to local competent departments under the CBRC by banks.
You can click this link to access the full content of Circular 96:
/xinwen/2015-08/08/content_2910149.htm
►Notice regarding the resumption of VAT collection on fertilizers (Caishui [2015] No. 90) Synopsis
To promote the sustainable development of the agricultural industry, the Ministry of Finance and SAT jointly relead Caishui [2015] No. 90 (“Circular 90”) on 10 August 2015 to cea the VAT preferential tax treatment on fertilizers.
创新改变世界According to Circular 90, from 1 September 2015, sales/importation of fertilizers shall be subject to
VAT/import-level VAT at 13%. Refund-upon-collection (先征后返) arrangement for potash fertilizer shall also be cead at the same time.
Taxable scope of fertilizers shall still refer to Guoshuifa [1993] No. 151 (“Circular 151”, i.e., Notes on the Taxable Scope of Some Goods for VAT). HS codes for fertilizers are prescribed in the Attachment of Circular
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90.
By the effectiveness of Circular 90 on 1 September 2015, contents of following circulars shall be abolished at the same time (plea click the circular no. in the table below to access the full content of the respective circular):
►Contents related to fertilizers of items 2 and 4 of Article 1 in Caishui [2001] No. 133, i.e. Notice regarding the VAT exemption policies for certain agriculture production materials
►Full content of Caishui [2002] No. 44, i.e., Notice regarding tax policies for the importation of fertilizers ►Full content of Caishui [2004] No. 197, i.e., Notice regarding VAT issues on potash fertiliz
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►Full content of Caishui [2005] No. 87, i.e., Notice regarding the temporary VAT exemption on carbamide products
►Full content of Caishui [2007] No. 171, i.e., Notice regarding the VAT exemption on diammonium phosphate
You can click this link to access the full content of Circular 90:
v/zhengwuxinxi/zhengcefabu/201507/t20150730_1395713.html
You can click this link to access the full content of Circular 151:
v/chinatax/jibenfa/jibenfa0103.htm
Business circulars
►Notice regarding the implementation of opinions on promoting the integration of business licen, unified code certificate and tax registration certificate (Gongshangqizhuzi [2015] No. 121)
Synopsis
Further to Guofa [2015] No. 33 (“Circular 33”, i.e. Notice regarding the overall plan on construction of a unified social credit code system for legal entities and other organizations) and Guobanfa [2015] No. 50 (“Circular 50”, i.e., Notice regarding opinions on promoting the integration of business licen, unified code certificate and tax registration certificate), the State Administration for Industry and Commerce (SAIC),
National Development and Reform Commission, SAT, General Administration of Quality Supervision, Inspection and Quarantine, Legislative Affairs Office of the State Council, and State Commission Office of Public Sectors jointly relead Gongshangqizhuzi [2015] No. 121 (“Circular 121”) on 7 August 2015 to specify the
implementation arrangements in this regard. (Plea refer to CTIE2015025 and CTIE2015027 for details of Circulars 33 and 50.)
Circular 121 reiterates that the SAIC and its local bureaus shall start the implementation of a unified social credit code system from 1 October 2015. Circular 121 also announces the unified documentation standards and requirements for business registration as its Attachments I and II. The
unified documentation standards and requirements shall facilitate the business registration process and reduce administrative costs of both the applicants and government authorities. An applicant shall be able to complete the business registration by filing one application form and submission of one t of documents. Upon verification of the documents
submitted, the applicant shall receive its business licen with the unified social credit code. Local bureaus under the SAIC shall share the basic registered information of enterpris to other relevant government authorities.怎样锻炼胸肌
Investors that intend to t up new enterpris or existing enterpris that may need to apply for business registration formalities with the SAIC or its local bureaus (e.g., alteration, de-registration) should study Circular 121 and its Attachments.
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You can click this link to access the full content of Circular 121:
/xinwen/2015-08/13/content_2912366.htm
