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Measures has been taken into effect on May 13th 2013, it mainly has clarified and regulated the following aspects: Measures simplify the procedures for registering foreign debt and eliminate several approval requirements stipulated in the previous SAFE regulations. For example, except for registration of foreign debts, the opening of a foreign debt account, foreign exchange settlement of funds, repayment of capital and interests, etc., shall be directly examined and verified by a designated foreign exchange bank. Measures further clarify the management of foreign debts account, usage of capital and conversion of foreign exchange. For example, proceeds of foreign debt borrowed…

2013 Catalogue will be taken into force on 10th June, 2013. Compared with Catalogue of Priority Industries for Foreign Investment in the Central-Western Region (2008 Revision), 2013 Catalogue has new features as following: To expand the scope of industries under the encouraged category. 2013 Catalogue has listed 500 industries, in which 173 kinds are newly added. For example, in the manufacture industry, for Anhui province, it has added distributed control system for important technical equipment such as complete production lines of metallurgical equipment. To optimize the direction of industries. It has added many items in the service industry, e.g. for…

Opinions has been released on 25th April, 2013, it has further explained the issues regarding the implementation of Regulations on Work-related Injury Insurances in the following aspects: To further define the definition of “work-related travel”, “employee’s non-primary liability”, “intentional crime”, “”intoxication or drug abuse”. For example, “work-related travel” shall be considered whether such travel of the employee is related to the work assigned by the employer and whether such accident and injury the employee suffers from is attributable to the work. To further regulate the issues related to occupational disease, such as the procedure and period of diagnose, standards of…

The newly revised Measures published by National Health and Family Planning Commission has been taken into force on 10th, Apr. 2013. Measures is tilted to the employees’ interest, the main contents are as follows: To expand the scope of diagnosis agency chosen by employee. The employee can choose the diagnosis agency located in the place where the employer is situated, the place of the employee’s regular residence, or the place of the employee’s registered permanent residence. To cancel the acceptance of diagnosis, and clarify the responsibilities of diagnosis agency to diagnosis and inform the relevant information when the employee requires…

In order to clarify issues in the previously promulgated “Administrative Measures on Value Added Tax and Consumption Tax for Exporting Goods and Services (SAT Announcement [2012] No. 24),” SAT released Announcement recently, which has been taken into effect on April 1, 2013. Highlights of Announcement are as follows: The tax of bonded materials and parts under the feeding processing trade shall be calculated based on the amount of real consumption instead of the amount of purchase. To extend the term of tax refund (exemption) declaration. “Announcement” stipulates that the deadline for the application for the tax exemption on export goods…