Legislation roundup: Tax deferral, bond offerings and foreign audio-visual programs
October 03, 2018 | BY
Susan MokThe scope of tax deferral is expanded for foreign investors, offering of bonds by foreign institutions requires approval and foreign programs may not be broadcast in prime time.
Tax
Ministry of Finance, State Administration of Taxation, National Development and Reform Commission and Ministry of Commerce, Circular on Expanding the Scope of Application of the Policy of Provisional Deferral of Withholding Income Tax on Direct Investments Made by Foreign Investors Using Distributed Profits
The scope of application of the policy of provisional deferral of withholding income tax on direct investments made by foreign investors using profits distributed by resident enterprises in China shall be expanded from foreign-invested projects in the encouraged category to all projects and sectors in which foreign investment is not prohibited.
Further reading
Capital Markets
People's Bank of China and Ministry of Finance, Tentative Measures for the Administration of the Offering of Bonds by Foreign Institutions on the National Interbank Bond Market
The offering of bonds on the national interbank bond market by a foreign financial institution with legal personality shall be subject to the approval of the People's Bank of China.
If a foreign government agency, international development organization, etc. wishes to offer relevant bonds on the national interbank bond market, it shall apply to the National Association of Financial Market Institutional Investors for registration.
Further reading
Media
National Radio and Television Administration, Provisions for the Administration of the Import and Transmission of Foreign Audio-visual Programs (Draft for Comments)
No entity or individual may import foreign current affairs type news programs.
Without the approval of the State Council's radio and television department, a radio or television broadcaster may not broadcast foreign audio-visual programs between 7:00 pm and 10:00 pm.
Further reading
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