New CIT Rules on Assets-related Expenses
New CIT Rules on Assets-related Expenses
China Tax Alert - Issue 16, July 2014 The State Administration of Taxation recently published Announcement of the State Administration of Taxation on Several Issues Concerning Corporate Taxable Income to further explain the tax treatment for several controversial tax issues, such as assets received by enterprises from government/shareholder allocation and depreciation of fixed assets. According to the Announcement, enterprises should reconsider planned investments or receipt of investments in order to find a reasonable tax planning strategy.
