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Recently, the Chinese General Administration of Customs (GACC) has announced a new version of the Administrative Measures of the Customs for the Tax Reduction and Exemption of Goods Import and Export, and will come into effect on 1 March 2021. Compared with the previous version, the procedure of filing and approval for tax reduction and exemption will be streamlined into the procedure of confirmation on the applicant’s and the goods’ entitlement to tax preference policy.
Recently, several Chinese embassies have issued notice suspending entry of foreigners holding Chinese visas, residence permits, and certain other valid visas, including foreigners holding valid Chinese visas and residence permits for working, private affairs and reunion that were issued on or before 3 November 2020 and currently located in the United Kingdom, France, Belgium, Italy, Philippines, Bangladesh, India, Russia, etc.. In addition, foreigners who are holding diplomatic, service, courtesy and crew member visas, as well as visas issued after 3 November 2020, are still admitted to the country.
Recently, China released the Negative List for foreign investment in Hainan Free Trade Port. Compared to the Negative List of the National Pilot Free Trade Zone, Hainan Free Trade Port will fully open up the automotive manufacturing and mining industries. Furthermore, the restrictions on foreign investment in telecommunications, education, market and society research and legal services will be relaxed.
Recently, the Shanghai Municipal Bureau of Finance, the Shanghai Municipal Taxation Bureau of the SAT and the Shanghai Municipal Housing Administration jointly released the Notice on Certain Issues Concerning the Shanghai Real Estate Tax Pilot on Certain Individual Properties with effect from 28 January 2021. The Notice clarifies again that real estate tax shall be levied on a residential house newly purchased by a resident family in Shanghai and which is the second house or above of the family (for the part of the building area per person above 80 sq.) and on a residential house newly purchased by a non-resident family in Shanghai.
Vivian Yao
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