China to phase out tax breaks for most foreign companies
20th November 2007
China has drafted executive regulations for a new corporate income tax law that will ‘harmonize’ the domestic and foreign rates. The final draft, which came out of the Second International Taxation Summit 2007 recently held in Shanghai, has been submitted to the State Council for approval. The results are expected to be announced next month. The AmCham-China Wire has details on the proposed rates.