April 16, 2009
No more full rebate of VAT to foreign-invested enterprises.
Luigi Bendi and Gianluca D'AgnoloChiomenti Studio [email protected], [email protected] taxIndividuals in Italy are subject…
March 17, 2009
FIEs now enjoy same property tax rates as domestic companies.
Losses in partnerships not allowed to be used to deduct other companies' profits.
FIEs required to calculate property taxes in renminbi.
“Reasonable wages and salaries” defined for enterprise income tax purposes.
Avoidance of double taxation for Chinese enterprises investing overseas.
50% of research and development expenses can be deducted before tax.
New branches of wholly foreign-owned banks may be exempted from pre-payment of tax.
The Circular addresses the issues of wages and salaries, total payroll, and deduction of employee benefit expenses.
