Legislation roundup: Advance pricing agreements, FIE record filing and internet negative list
November 03, 2016 | BY
Katherine Jo &clp articles &The SAT has set stricter criteria for advance pricing, the SAIC has permitted non-restricted FIEs to directly apply for business registration and the NDRC has published a draft negative list for internet market access
Tax
State Administration of Taxation, Announcement on Matters Relevant to Improving the Administration of Advance Pricing Arrangements
In general, an advance pricing arrangements shall apply to an enterprise that has affiliated transactions of at least Rmb40 million in each of the three years prior to the tax year in which the date on which the competent tax authority serves the Tax Matter Notice on the enterprise concerning its acceptance of the enterprise's intent to negotiate and execute such arrangement falls.
Further reading
FDI
State Administration for Industry and Commerce, Circular on Duly Carrying Out Relevant Registration Work After the Implementation of Administration of Foreign-invested Enterprises by Means of Record Filing
Where a foreign investor invests in an industry other than one that is subject to the special administrative measures for access by foreign investors specified by the state (the Negative List), the proof of record filing from the commerce department is not a precondition for the carrying out of business registration by the enterprise, and the administration for industry and commerce shall directly accept the application for the registration of the establishment of, or changes to, such foreign-invested enterprise.
See the digest for more details.
Further reading
TMT
General Office of the National Development and Reform Commission, Negative List for Internet Market Access (First Batch, Trial Version) (Draft for Comments)
The Negative List preliminarily sets forth a batch of market access items in the internet sector in China that involve the prohibition or restriction of investment therein and operation thereof. It totals 36 items, 6 of which are in the prohibited access category and 30 of which are in the restricted access category.
See the digest for more details.
Further reading
Tax
State Administration of Taxation, Announcement on Matters Relevant to Improving the Administration of Advance Pricing Arrangements
In general, an advance pricing arrangements shall apply to an enterprise that has affiliated transactions of at least Rmb40 million in each of the three years prior to the tax year in which the date on which the competent tax authority serves the Tax Matter Notice on the enterprise concerning its acceptance of the enterprise's intent to negotiate and execute such arrangement falls.
Further reading
FDI
State Administration for Industry and Commerce, Circular on Duly Carrying Out Relevant Registration Work After the Implementation of Administration of Foreign-invested Enterprises by Means of Record Filing
Where a foreign investor invests in an industry other than one that is subject to the special administrative measures for access by foreign investors specified by the state (the Negative List), the proof of record filing from the commerce department is not a precondition for the carrying out of business registration by the enterprise, and the administration for industry and commerce shall directly accept the application for the registration of the establishment of, or changes to, such foreign-invested enterprise.
See the digest for more details.
Further reading
TMT
General Office of the National Development and Reform Commission, Negative List for Internet Market Access (First Batch, Trial Version) (Draft for Comments)
The Negative List preliminarily sets forth a batch of market access items in the internet sector in China that involve the prohibition or restriction of investment therein and operation thereof. It totals 36 items, 6 of which are in the prohibited access category and 30 of which are in the restricted access category.
See the digest for more details.
Further reading
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