Facebook
Home Immigration Court

Immigration Court

CIRCULAR CONCERNING TRANSMITTING CIRCULAR ON ADJUSTING THE TAX-REFUND RATE FOR THE EXPORTS OF COAL TAR AND OTHER PRODUCTS AND CIRCULAR ON CONTINUOUSLY SUSPENDING THE TAX-REFUND FOR THE EXPORT OF SOME FERTILIZERS

General Office of the Ministry of Commerce

Circular concerning Transmitting Circular on Adjusting the Tax-refund Rate for the Exports of Coal Tar and Other Products and Circular
on Continuously Suspending the Tax-refund for the Export of some Fertilizers

The competent department of commerce in all provinces, autonomous region, municipality directly under the Central Government, cities
specifically designated in the state plan:

Circular of the General Office of the Ministry of Commerce concerning Transmitting Circular of the Ministry of Finance, the State
Administration of the Taxation of the People’s Republic of China, on Adjusting the Tax-refund Rate for the Exports of Coal Tar and
Other Products (Cai Shui [2005] No.184) and Circular of the Ministry of Finance, the State Administration of Taxation, the National
Development and Reform Commission of the People’s Republic of China, on Continuously Suspending the Tax-refund for the Export of
some Fertilizers (Cai Shui [2005] No.192) is hereby transmitted to you for informing the enterprises’ implementation. Once problems
arise in the process of its implementation, please reflect them to the Ministry (Department of Planning and Finance).

Appendix:

1.

Circular of the Ministry of Finance, the State Administration of the Taxation of the People’s Republic of China, on Adjusting the
Tax-refund Rate for the Exports of Coal Tar and Other Products (omitted)

2.

Circular of the Ministry of Finance, the State Administration of Taxation, the National Development and Reform Commission of the People’s
Republic of China, on Continuously Suspending the Tax-refund for the Export of some Fertilizers (omitted)

General Office of the Ministry of Commerce

January 23, 2006



 
General Office of the Ministry of Commerce
2006-01-23

 






CIRCULAR OF THE STATE ADMINISTRATION OF TAXATION ON INTENSIFYING THE ADMINISTRATION OF ARCHIVAL MATERIALS CONCERNING THE INDIVIDUAL INCOME TAX ON FOREIGNERS

the State Administration of Taxation

Circular of the State Administration of Taxation on Intensifying the Administration of Archival Materials concerning the Individual
Income Tax on Foreigners

Guo Shui Han [2006] No. 58

The local taxation bureaus of all provinces, autonomous regions, municipalities directly under the Central Government, and cities
as specifically designated in the state plan

With a view to intensifying and regulating the collection and administration of individual income tax on foreigners (including people
from Hong Kong, Macao and Taiwan as well as overseas Chinese, hereinafter the same), you are hereby notified of the relevant requirements
for the administration of archival materials concerning the individual income tax on foreigners as follows:

I.

Establishing an Account for Foreigners by Enterprise as the Basic Unit

With regard to those enterprises that employ foreigners within jurisdiction, the tax authority at the grass-root level shall establish
an administration account for foreigners by enterprise regardless of how many foreign employees there are or whether or not relevant
foreigners take their jobs for a long term or only temporarily. An administration account for foreigners shall include such information
of the relevant foreigners as name (Chinese and foreign language), nationality, post and tenure.

II.

Adopting the Administration Method of “One Archive for One Person” on the Basis of the Administration Account

The tax authority at the grass-root level shall, on the basis of the administration account for foreigners by enterprise, adopt the
administration method of “one tax return archive for one person”. An individual account shall include such information as: name (in
Chinese and foreign language), gender, birth place (in Chinese and English), birth date, overseas domicile (in Chinese and English),
name of the entity that has dispatches him, tenure of office in China or period of labor service, post, period of residence, time
of entry into or exit out of China, resident address in China, phone number, postal code, amount of income, payment place, withholding
agent, amount of tax declared, amount of tax payable, amount of tax paid and time of turning over the tax into the state treasury.

III.

Dynamic Administration

Dynamic administration shall be applied to the administration accounts for foreigners by enterprise as well as to the individual archives
of foreigners, which shall be updated according to the increase or decrease of the number of foreigners, change of posts, period
of residence, time of entry into or exit out of China and change of incomes so as to carry into effect the scientific and fine administration
over the individual income tax on foreigners.

IV.

Examination of the Established Accounts

All regions shall, according to the requirements of the State Administration of Taxation, improve by themselves the relevant mechanism
and intensify the administration of archival materials by the end of June, 2006. Any region that fails to meet the requirement of
the State Administration of Taxation of “establishing accounts by enterprise and establishing archives by individual ” shall establish
relevant rules and system as required as soon as possible so as to realize the objective of “administration by means of accounts
and one archive for one person”. All regions shall summarize their improvement on the administration of archival materials concerning
the individual income tax on foreigners, which shall be reported to the State Administration of Taxation (Department of International
Taxation) by July 31, 2006.

The State Administration of Taxation shall examine and summarize the administration of archival materials concerning the individual
income tax on foreigners from July to December of 2006. The examination result will be circulated.

State Administration of Taxation

January 23, 2006



 
the State Administration of Taxation
2006-01-23

 






CIRCULAR OF THE PEOPLE’S BANK OF CHINA ON THE RELEVANT MATTERS CONCERNING THE PILOTS OF RMB INTEREST RATE SWAP TRANSACTION

People’s Bank of China

Circular of the People’s Bank of China on the Relevant Matters concerning the Pilots of RMB Interest Rate Swap Transaction

Yin Fa [2006] No. 27

The headquarters of the People’s Bank of China in Shanghai and all branches and business management departments of the People’s Bank
of China, central sub-branches of the People’s Bank of China in all provincial capital cities, central sub-branches of the People’s
Bank of China in all deputy provincial capital cities, all policy banks, state-owned commercial banks, joint-stock banks, National
Inter-bank Funding Center and China Government Securities Depository Trust & Clearing CO., Ltd.,

For the purpose of diversifying the risk management tools of the national inter-bank bond market investors (hereinafter referred to
as the market investors), regulating and directing the RMB interest rate swap transaction, and accelerating the process of interest
marketization, hereby notified of the following matters relating to the pilots of RMB interest rate swap transaction:

I.

The term “RMB interest rate swap transaction” as mentioned in this Notice refers to a transaction in which both parties agree, within
a certain period in the future, to exchange cash flows on a agreed amount of RMB principal, with cash flow of one part calculated
on the basis of floating interest rate but the other part on the basis of fixed interest rate.

II.

Among the market investors, the commercial banks approved by the relevant regulatory institutions to engage in transactions business
of derivatives may, upon authorization of the regulatory institutions, conduct interest rate swap transactions with its clients of
deposits and loans, as well as other commercial banks approved to engage in derivatives transactions business, or provide their clients
of deposits and loans with interest rate swap transaction service. Other market investors are only allowed to conduct swap transactions
hedging for value protection purposes with the commercial banks that related to them due to deposits and loans and are approved to
engage in derivatives transactions business .

III.

The reference interest rates for swap transactions shall be the market interest rates possessing the benchmark character for the national
inter-bank bond market that are announced by the National Inter-bank Funding Center (hereinafter referred to as the NIFC) upon authorization
of the People’s Bank of China, and the one-year fixed deposit interest rate announced by the People’s Bank of China.

IV.

When engaging in swap transactions, the market investors shall be aware of the risks and establish and improve a sound risk control
system and internal control system so as to prevent the potential risks of the swap transactions indeed.

Before a market investor conducts a swap transaction, it shall submit the rules of the swap transaction risk control system and internal
control system to the regulatory institution and simultaneously send a copy to the NIFC.

V.

A swap transaction may be conducted through the trading system of the NIFC, or may be conducted by both parties via telephone, fax
or other means.

VI.

To conduct swap transactions, a market investor shall conclude a written transaction contract for each transaction, in which the transaction
elements shall be stipulated. If both parties to transaction believe necessary, they may enter into a separate agreement to clearly
specify the rights and obligations of both parties, circumstances of breach of contract, as well as handling of breach of contract,.
The aforesaid agreement and transaction contract constitute a complete contract for the swap transaction.

VII.

To conduct a swap transaction, a market investor may, according to the credit status of the opposite party, establish guaranty money
or securities. The submission, preservation and disposal of the guaranty money or securities shall be conducted with reference to
the forward bond transactions mode.

VIII.

After a swap transaction is clinched, both parties to the transaction shall strictly perform the obligations as stipulated in the
transaction contract.

IX.

A market investor engaging in swap transactions shall, within 3 working days after each period of ten days, report the swap transaction
information during the past period of ten days to the NIFC for archival purposes (except the transactions conducted through the trading
system of the NIFC). The NIFC shall, according to the provisions and authorization of the People’s Bank of China, disclose the relevant
information about the swap transactions to the market in a timely manner.

X.

In the case of breach of contract concerning a swap transaction, and existing any disputes over the fact of breach of contract or
liabilities therefore, both parties to the transaction may, upon negotiation, apply for arbitration or file a lawsuit to the people’s
court, and shall, no later than 12: 00 noon of the next working day after they received the final result of arbitration or litigation,
send the final result to the NIFC, which shall announce it to the general public on the same day when receives it.

XI.

The NIFC shall be responsible for the routine monitoring of the swap transactions. If it finds any abnormal transaction information,
it shall report it to the People’s Bank of China in a timely manner and shall, within 10 working days after the end of each month,
report in written form to the NIFC the swap transaction information of the current month.

XII.

All branches and sub-branches of the People’s Bank of China shall strengthen the communication with the NIFC and shall conduct routine
supervision and inspection over swap transactions of the market investors within their respective jurisdiction.

XIII.

This Notice shall come into force as of the date of issuance.

The People’s Bank of China

January 24, 2006



 
People’s Bank of China
2006-01-24

 






ANNOUNCEMENT NO. 6, 2006 OF MINISTRY OF COMMERCE, GENERAL ADMINISTRATION OF CUSTOMS AND GENERAL ADMINISTRATION OF QUALITY SUPERVISION, INSPECTION AND QUARANTINE OF THE PRC

20060501

Ministry of Commerce, General Administration of Customs and General Administration of Quality Supervision, Inspection and Quarantine

Announcement No. 6, 2006 of Ministry of Commerce, General Administration of Customs and General Administration of Quality Supervision,
Inspection and Quarantine of the PRC

[2006] No. 6

In accordance with related regulation of Memorandum of Understanding on Textile and Costume Trade between Peoples￿￿ Republic of China
and the United States of America, Ministry of Commerce, General Administration of Customs and General Administration of Quality Supervision,
Inspection and Quarantine of the PRC adjusted the Temporary Commodity Catalogue of Textile Exports as follows:

Add the following commodity codes of Customs to Item 222: 6002901000, 6002903000, 6002904000, 6002909000, 6004901000, 6004903000,
6004904000, 6004909000, 6006310000, 6006320000, 6006330000, 6006340000, 6006410000, 6006420000, 6006430000, 6006440000

Add the following commodity codes of Customs to Item 229: 6003300000, 6003400000

This announcement shall take effect as of January 27, 2006.

Ministry of Commerce

General Administration of Customs

General Administration of Quality Supervision, Inspection and Quarantine of the PRC

January 25, 2006



 
Ministry of Commerce, General Administration of Customs and General Administration of Quality Supervision, Inspection
and Quarantine
2006-01-25

 






NOTICE OF THE GENERAL AFFAIRS DEPARTMENT OF THE STATE ADMINISTRATION OF FOREIGN EXCHANGE ON RELEVANT ISSUES CONCERNING OPENING FOREIGN EXCHANGE CAPITAL ACCOUNTS BY INSURANCE INTERMEDIARY INSTITUTIONS

General Affairs Department of State Administration of Foreign Exchange

Notice of the General Affairs Department of the State Administration of Foreign Exchange on Relevant Issues concerning Opening Foreign
Exchange Capital Accounts by Insurance Intermediary Institutions

Hui Zong Fa [2006] No.6

The branches and the administration departments of foreign exchange under the State Administration of Foreign Exchange in all the
provinces, autonomous regions, and municipalities directly under the Central Government, and the branches of the State Administration
of Foreign Exchange in Shenzhen, Dalian, Qingdao, Xiamen and Ningbo,

In order to facilitate the handling of such matters as establishment, capital alteration, and alteration of stock right, and etc.
by the insurance intermediary companies sharing by foreign capital , and regulate foreign exchange administration, the relevant
issues concerning foreign exchange administration of foreign exchange capital accounts opened by insurance intermediary companies
sharing by foreign capital are hereby notified as follow:

I.

As an insurance intermediary company sharing by foreign capital handles such matters as establishment, capital alteration, and alteration
of stock right, and etc., it may apply to the foreign exchange administration department, branch or sub-branch (hereinafter refers
to as foreign exchange bureau) of the State Administration of Foreign Exchange at the local place where it is located for opening
a foreign exchange capital account at a designated foreign exchange bank before obtaining the approval reply of China Insurance
Regulatory Commission.

1.

When filing an application, the materials shall be provided as follows:

(1)

An written application for opening an account (specifying the basic information of the enterprise, the amount of capital to be contributed,
equity structure, proportion of capital contributions, and organizations structure, and etc.).

(2)

Articles of association of the company or partnership agreement or the relevant agreement on alteration of stock right.

(3)

Photocopy of the pre-approval notice on enterprise name issued by the administrative department of industry and commerce.

(4)

Name list of the main personnel preparing for the establishment and the photocopy of their identity certificates (provided at the
time of establishing a new enterprise). And

(5)

Other documents provided as required by the foreign exchange bureau.

2.

The range of the use of the foreign exchange capital account shall be: for capital verification on the foreign exchange capital invested
by the foreign shareholders.. The capital in the account shall not be used for settlement of foreign exchange or for payment before
an insurance intermediary company with foreign shares obtains the documents of approval of the department of commerce.

3.

The time limit for using the capital account shall be: 6 months from the day that the account is opened after approval.

II.

After obtaining the documents of approval of the department of commerce for its establishment, capital alteration, or alteration of
stock right, or any other matter, an insurance intermediary company sharing by foreign capital shall go through formalities for
foreign capital and foreign exchange (or alteration) registration and formalities for alteration of foreign exchange capital account
at the foreign exchange bureau at its locality according to the relevant provisions on foreign exchange administration in a timely
manner.

III.

At the time when the capital account as mentioned in Article I of the present Notice is due, if an insurance intermediary company
sharing by foreign capital has not obtained the documents of approval of the department of commerce for the establishment, capital
alteration, or alteration of stock right, or any other matter, the foreign exchange capital account shall be closed immediately,
and remitted out the capital invested by foreign shareholders upon the approval of the foreign exchange bureau at its locality.

IV.

The present Notice shall be implemented as of the day of its promulgation. If any problem is encountered in the implementation, please
report it back to the department of capital projects of the State Administration of Foreign Exchange.

Contact Person: Wang Lei

Contact Telephone: 68402348

General Affairs Department of the State Administration of Foreign Exchange

January 25, 2006



 
General Affairs Department of State Administration of Foreign Exchange
2006-01-25

 






CONSTITUTION ACT, 1982 – page 22

NOTES (1) The enacting clause was repealed by the Statute Law Revision Act, 1893, 56-57 Vict., c. 14 (U.K.). It read as...

CONSTITUTION ACT, 1982 – page 21

CONSTITUTION ACT, 1982 – page 20

CONSTITUTION ACT, 1982 – page 19

CONSTITUTION ACT, 1982 – page 18

Disclaimer: There is no confidential attorney-client relationship formed by using Laws.com website and information provided on this site is not legal advice. For legal advice, please contact your attorney. Attorneys listed on this website are not referred or endorsed by this website. By using Laws.com you agree to Laws.com Terms Of Use.
Facebook
© LAWS.COM NETWORK 2023-2024