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On May 12 2010, the State Administration of Taxation (SAT) issued the Notice of Clarifying the Completion Conditions of Product Developments of Real Estate Development Enterprise (Guo Shui Han [2010] No.201) (Notice 201) pursuant to previous Circulars concerning enterprise income tax (EIT) of real estate development enterprises (REDEs). In accordance with Notice 201, the completion …

SAT Clarified Completion Conditions of Real Estate Product Read More »

On July 30th 2010, the European Commission (“EC”) said that it would deepen its investigation of the proposed merger of Olympic Air and Aegean Airlines, both of which are Greek airlines. The merger is said to be able to “raise serious competition concerns”. Officials of EC said that the business to be merged has “very …

EU Opens Broader Antitrust Investigation of Greek Airlines’ Merger Read More »

On May 19th 2010, the State Administration of Taxation (“SAT”) promulgated the Notice Regarding Certain Issues of Calculating Land Value-Added Tax (Guo Shui Han [2010] No.220) (the “Notice”). The Notice further clarified the calculation of land value-added tax (“LVAT”) from certain aspects concerning calculation of income, deduction of costs, compensation of dismantlement, and such others. …

SAT Issued New Circular to Restrict Collection of LVAT Read More »

On July 27, the European Commission cleared the merger of the United Airlines and Continental Airlines Inc, making the United Airlines the world largest airline company. According to the investigation undertaken by the administrative authority on the anti-monopoly matters of the European Commission, there are few competition overlaps between the two airlines on their European …

Merger of United Airlines and Continental Airlines Inc. cleared Read More »

On August 8th 2010, Gome Electrical Appliances Holdings Ltd (“Gome”) started legal proceedings against Huang Guangyu in the High Court of Hong Kong. The claim is focused on a buyback by Gome of its own shares planned by Huang. Gome said Huang breached the trust as a shareholder and did harm to the company. According …

Gome Sues Former Chairman Huang Guangyu Read More »

Following the “Notice on the Pre-tax Deduction for Public-Welfare Donation” released by the Ministry of Finance (MOF) on Dec 31, 2008, the “Supplementary Notice concerning Issues Related to Pre-tax Deduction for Public-Welfare Donation” (Notice) has been issued recently. The Pre-tax Deduction for Public-Welfare Donation means that the donation expenditure paid by the enterprises or individuals …

Further Regulations on Pre-Tax Deduction For Public Welfare Donation Released Read More »

On July 30th 2010, Hao Yabin, Deputy Secretary-General of China Video Industry Association (CVIA), attended the Summit of New Television Industry under the Merge of “Three Networks”. At the Summit, Hao said that management of Internet Television (ITV) should benefits the Industry, rather than lead to industrial monopoly by controlling licenses. Hao admitted that the …

Experts Say License for ITV Should Avoid Leading to Monopoly Read More »

On June 28th 2010, the State Administration of Taxation (“SAT”) issued the Notice of Effectiveness and Implementation of the China-Barbados Protocol on Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes (Guo Shui Fa [2010] No.64) (“the new Protocol”). According to the Notice, the new Protocol signed on February 10th 2010 …

New China-Barbados Double Taxation Protocol Is to Be Implemented Read More »

In this July, a number of Chinese banks raised the ATM withdrawal fee to 4 Yuan in uniform. Without any notice to the public, the sudden increase in the bank fee caused a severe public censure. As a response to the complaints, the NDRC announced a Q&A on July 28th concerning the recent increase of …

ATM fee get a unanimous raise, new regulations expected to be released Read More »

“Criteria for the Examination of Trademarks Containing ‘China’ or the Character ‘National’ as the First Word” has been released by The State Administration for Industry and Commerce on 28 July, 2010. In its goal of consummating works on trademark, strict rules have been issued in accordance with Trademark Law of the People’s Republic of China. …

Rules on Trademarks Containing “China” Or “National” have been released Read More »