China taxes will fall further under VAT, government says on January 1, 2017China’s businesses will see further reductions in tax bills in 2017 due to the new value-added tax system, said Wang Jun, State Administration of Taxation Director, in a press conference, National Business Daily reported Tuesday. The VAT system was introduced in May and has saved 470 billion yuan (US$67.6 billion) in taxes in the first […]
CIRC to investigate massive share purchases by insurers on December 12, 2016China’s Insurance Regulatory Commission (CIRC) will send two inspection teams to Foresea Life and Evergrande Life to deal with any possible financial risks stemming from massive share purchases, YiCai reported on Tuesday evening. The move follows CIRC’s decision on Monday to suspend Foresea Life from selling new life insurance policies and proposing new products. The […]