ey-global-tax-policy-outlook-for-2015
ey-global-tax-policy-outlook-for-2015
ey-global-tax-policy-outlook-for-2015
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China<br />
• <br />
• Top marginal personal income <strong>tax</strong> (PIT) rate<br />
amortization<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
• PIT base<br />
• <br />
<br />
<br />
<br />
industries 13 <br />
<br />
<br />
14 <br />
can<br />
<br />
be treated as a one-off expenditure.<br />
<br />
• Changes to <strong>tax</strong> en<strong>for</strong>cement approach<br />
• <br />
<br />
<br />
(IIT) system. 15 Currently, the IIT system is under a different<br />
<br />
<br />
<br />
<br />
<br />
• <br />
<br />
<br />
• The revised Tax Collection and Administrative Law was<br />
announced on 29 June 2013, which only contains certain<br />
procedural changes. It is expected that an updated version<br />
of the Tax Collection and Administrative Law and its<br />
implementation rules would be promulgated in the coming<br />
<br />
BEPS initiatives.<br />
13 15 The six industries are: (1) biopharmaceutical products; (2) special<br />
<br />
equipment manufacturing; (3) railroad, shipping, aerospace and other<br />
transportation equipment; (4) computer, telecommunications and other<br />
electronic equipment; (5) instruments and panels; and (6)in<strong>for</strong>mation<br />
transmission, software and communications technical services.<br />
14 <br />
The <strong>outlook</strong> <strong>for</strong> <strong>global</strong> <strong>tax</strong> <strong>policy</strong> in <strong>2015</strong> |<br />
61
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