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State Council Calls for Changes to Local Preferential Policies

Tax Newsflash:January 8, 2015/China

China’s State Council issued a notice (Guofa [2014] No. 62) on 9 December 2014 that requires the ministries of the State Council and local governments to "clean up" and regulate preferential policies (e.g. tax incentives). (Tax Newsflash:January 8, 2015/China)

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China’s State Council issued a notice (Guofa [2014] No. 62) on 9 December 2014 that requires the ministries of the State Council and local governments to "clean up" and regulate preferential policies (e.g. tax incentives). Specifically, existing local incentives that violate state laws will have to be abolished; incentives that are not in violation of state laws and that are deemed to be essential to the regional/local government will have to be approved by the State Council. Local governments are required to take appropriate actions by 31 March 2015.
 

>> Click for Japanese [国務院が地方優遇政策の整理と規範化を要求]

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