AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Tax-based export incentive
On 10 November 2008, the State Council approved and published "the Provisional Regulations of the People's Republic of China on Business Tax."Among the regulations, Article No. 8 points out that the insurance of exported goods can be exempted from the current 5% business tax for finance and insurance industry. The insurance providers should also be registered in China.
The new policy will be effective on 1 January 2009.
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