ANNOUNCEMENT 28 Aug 2017
August 28th, 2017 - The PRC Ministry of Culture announced that the procedure to earn recognition as an animation- or comic-producing firm eligible for tax reductions would be tightened.
NUMBER OF INTERVENTIONS
PRC Ministry of Culture, August 28th 2017. (办产函〔2017〕190号—文化部办公厅关于2017年动漫企业认定工作有关事项的通知)
On the 28th of August 2017, the Chinese Ministry of Culture (MoC) announced that, in order to be recognised as a potential beneficiary of several other preferential tax policies (see related acts), firms would first have to register through their local authorities and be officially recognised by the MoC.
Such a procedure was in place previously, however, the process to become recognised was made more stringent, with officially signed and sealed approval from local bureaux of culture and tax now necessary before the MoC will consider application, followed by a final consideration by the MoC itself.
Previous policies have discriminated against foreign-owned firms and firms that have been deemed as culturally counter-productive.