Using Energy-saving or New Energy Vehicle or Vessel Can Enjoy Preferential Tax Policy

Since 1 January 2012, using energy-saving vehicle or vessel can enjoy half reduction of vehicle and vessel tax by half and using new energy vehicle and vessel can be exempted from the vehicle and vessel tax. Lee & Lee Associates Comments:  Vehicle and vessel tax is managed by index, which is announced by government authority irregularly. […]

VAT Reform Started in Shanghai Since 1 Jan 2012

Relevant Rule: ‘Notice of the Ministry of Finance and the State Administration of Taxation on Issuing ‘the Plan for the Pilot Practice of Levying Value Added Tax in Lieu of Business Tax’’ Cai Shui [2011], No. 110; 
‘Notice of the Ministry of Finance and the State Administration of Taxation on Carrying out the Pilot Practice of Levying Value Added Tax in Lieu of Business Tax on the Transportation Industry and Some…

Further Tax Reduction on Transaction of Assets Reorganization

According to the announcement of SAT on 26 September 2011, in the process of assets reorganization, transferring of all or partial physical assets and the related claims, liability and labor force to other enterprises or individuals through merger, division, sale or replacement, does not belong to the scope of levying business tax…