Tax

Individuals to pay tax for favourable property deals.

Preferential tax policy for purchase of Chinese equipment cancelled.

More organizations allowed to enjoy tax exemption in China and Canada.

The rate for pe-tax deduction of expenses for individual investors of partnerships raised.

Deed duty exempted for internal asset transfer

The rate for the deduction of the expenses before individual income tax of the owners of family proprietorships and of investors in wholly individually-owned enterprises and partnerships is uniformly set at Rmb24,000 per year (Rmb2,000 per month).

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Return of leaseholds exempted from business tax.

Foreign enterprises pay income tax according to the Gregorian calendar year.