Surtaxes signal end of preferential tax policies for foreign investors
November 09, 2010 | BY
Candice MakConcentrate on tax policy transparency and consistent enforcement
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The tax gap is now closed up between domestic and foreign investors.
On October 22 2010, the State Council issued a notice that repealed the tax exemption of two surtaxes on foreign-invested companies. Beginning December 1 2010, they will have to pay the urban maintenance and construction tax (UMCT) and the extra charges of education funds tax (EFT).