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State Council Suspends "Clean-up" of Preferential Policies

Tax Newsflash:May 21, 2015/China

China’s State Council issued a notice (Guofa [2015] No. 25, Notice 25) on 11 May 2015 that suspends the "clean-up" of preferential policies initiated in the year-end of 2014. (Tax Newsflash:May 21, 2015/China)

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China’s State Council issued a notice (Guofa [2015] No. 25, Notice 25) on 11 May 2015 that suspends the "clean-up" of preferential policies initiated in the year-end of 2014. The clean-up (set out in Notice 62) required local governments to review and abolish any local incentives that violated central government policies/law, and required State Council approval of incentives that did not violate central government policies/law but that were considered essential to the local/regional government. Local governments were required to report the status of these policies to the Ministry of Finance by the end of March 2015.

 

>> Click for Japanese [中国国務院が優遇政策の整理を保留]

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