ANNOUNCEMENT 15 Dec 2010In December 2010, the government of China announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
On 15 December 2010, the General Administration of Customs issued the "Decision on Abolishing the Measures of the Customs for Supervision over and Tax Collection or Tax Exemption on Import and Export Commodities of Foreign-Funded Enterprises" (Order No.201). This matter was discussed and adopted at the executive meeting of the General Administration of Customs on November 15, 2010, and came into force on March 1, 2011.
According to this document, certain favorable treatment such as VAT and import/export duties exemptions conferred to the foreign enterprises operating in China have been abolished.