Legislation roundup: Debt-for-equity swaps, PPP and individual income tax

With approval, determination of the equity conversion price of state-owned listed companies by reference to the transaction price for the stock on the secondary market is permitted.

See the digest for more details.

Further reading

Circular on Regulating the Credit Asset Benefit Right Transfer Business of Banking Financial Institutions

Circular on the Nationwide Implementation of Macroprudential Administration of the Overall Cross-border Financing

In the news: China releases rules for debt-for-equity swaps

PPP

Ministry of Finance, Tentative Measures for the Administration of the Public Finances of Public-Private Partnership Projects

财政部政府和社会资本合作项目财政管理暂行办法

The competent industry department shall incorporate the government's responsibility for multi-year fiscal expenditures as specified in the PPP project contract into the mid-term fiscal plan so as to ensure the government's performance capacity throughout the entire life of the project.

See the digest for more details.

Further reading

Operational Guidelines for Public-private Partnerships (Trial Implementation)

Building up the PPP model

Guiding Opinions on Promoting the Public-private Partnership Model in Public Service Sectors

New rules pave the road for PPP

Social Policy

State Council, Implementing Opinions on Stimulating the Vitality of Key Groups to Boost the Income of Urban and Rural Residents

国务院关于激发重点群体活力带动城乡居民增收的实施意见

An individual income tax system combining the comprehensive and categories will be gradually established, the tax burden on middle and lower income earners will be further reduced and adjustment of taxes on high income earners will be appropriately intensified.

Further reading

Announcement on the Issue of Individual Income Tax on Sole/Family Proprietorships, Wholly Individually-owned Enterprises and Partnerships

Implementing Rules for the PRC Law on the Administration of the Levy and Collection of Taxes (Revised)