Archive for September, 2010

Banks Permitted to Sell Each Other Loans

LEHMAN, LEE & XU
According to report from China Daily, twenty-one banks agreed in Shanghai on Saturday, September 27, 2010, to sell loans on China’s interbank market after the government allowed the transactions for the first time.┬áThe global financial crisis showed the inefficiency of risk management, People’s Bank of China Governor Zhou Xiaochuan said at a [...]

Published by admin on September 30th, 2010 tagged Uncategorized | 1 Comment »

SAT Issues Tax Agent Firm Professional Risk Fund Measures

The State Administration of Taxation (SAT) has recently issued the Measures for Administration of Professional Risk Fund of Registered Tax Agent Firms to be effective as of 1 October 2010. The Measures require registered tax agent firms to allocate and use a professional Risk Fund in accordance with the provisions of the Measures, specifying that [...]

Published by admin on September 30th, 2010 tagged Uncategorized | Comment now »

SAT Clarifies Tax Rules On Sale Of Assets By Lessees In Finance Leaseback

LEHMAN LEE&XU
Since the sale of assets by lessees in finance leaseback became the new favorite of listed companies, the tax preference is given by State Administration of Taxation recently.
On September 8 issued an announcement related to the sale of assets by lessees in finance leaseback by the State Administration of Taxation, which focuses on value [...]

Published by admin on September 27th, 2010 tagged Uncategorized | Comment now »

Part Of Income Of Insurance Coverage Funds To Be Exempted From Taxation

LEHMAN LEE&XU
The Ministry of Finance published the Circular about Relevant Tax Issues of the Insurance Coverage Fund on Sep.6 2010 presents as follows: (a) Insurance Coverage Fund Corporations can be exempted from business income taxes and the scope of the exemption includes: insurance protection funds paid by domestic insurance companies by law; income from donations; [...]

Published by admin on September 27th, 2010 tagged Uncategorized | Comment now »

Direct Aviation Business Between Mainland And Taiwan To Enjoy Tax Preference

LEHMAN, LEE & XU
The Ministry of Finance has recently published a notice to clarify policies on business tax and enterprise income tax in direct aviation between the Chinese Mainland and Taiwan. According to this new rule, from 25 June 2009, incomes of Taiwan airline companies received in the Chinese Mainland from their direct aviation business [...]

Published by admin on September 27th, 2010 tagged Uncategorized | 1 Comment »

Anti-Corruption Compliance Summit to be Held in China

LEHMAN, LEE & XU
With the success of two summits, the 3rd Anti-Corruption Compliance in China Summit 2011 will be held on March 2-4, 2011 in Beijing, China.
In July 2010, the U.S. government signed the Dodd-Frank Act into practice with a new whistleblower program that rewards individuals who assist SEC to uncover securities violations, followed with [...]

Published by admin on September 25th, 2010 tagged Uncategorized | 1 Comment »

CIETAC and Arbitration Law in China

LEHMAN, LEE & XU
Introduction
Arbitration has always been popular in China, fitting as it does with Confucian values and in particular with the belief that a formal dispute breaches the fundamental principle of business arrangements – that both parties should find a benefit. Given concerns over the difficulties of navigating the People’s Republic of China’s complex [...]

Published by admin on September 21st, 2010 tagged Uncategorized | Comment now »

6 Central Authorities Announce IPR Pledging Policies To Support SMEs To Finance Themselves

LEHMAN, LEE & XU
The Ministry of Finance (MOF), Ministry of Industry and Information Technology (MIIT), China Banking Regulatory Commission (CBRC), State Intellectual Property Office (SIPO) and two other central authorities have jointly promulgated the “Notice on Strengthening the Administration of Financing by Pledging Intellectual Property Rights and Appraisal to Support the Development of Small and [...]

Published by admin on September 17th, 2010 tagged Uncategorized | 1 Comment »

Draft Amendments To The Patent Agency Regulations Under Public Consultation

LEHMAN, LEE & XU
Recently the “Draft Amendments to the Patent Agency Regulations” has been published by The State Intellectual Property Office (SIPO) and the State Intellectual Property Office invited the public to give opinions by 25 September 2010. The Draft Amendments specify the authority of the national departments and local departments as well as the [...]

Published by admin on September 17th, 2010 tagged Uncategorized | 1 Comment »

SIPO Proposes To Amend Rules On Administrative Enforcement Of Patent Rights

LEHMAN, LEE & XU
Recently the “Draft Amendments to the Rules on Administrative Enforcement of Patent Rights (Consultative Draft)” was issued by the State Intellectual Property Office (SIPO) to seek for opinions. The Draft Amendments specify the patent authorities’ administrative enforcement of patent rights, including handling disputes over patent infringements, arbitration of disputes over patents and [...]

Published by admin on September 17th, 2010 tagged Uncategorized | Comment now »