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10 New Tax Reform Measures Formally Adopted

The State Administration of Taxation has announced 10 new measures intended to resolve a number of business-related tax concerns.

Among the most significant of these changes are the following:

  • An expansion to the scope of the Tax and Business Environment Pilot Programme, including the introduction of 20 tax processing measures that could be extended across the whole of the mainland at a later date
  • Accelerating the pace of the establishment of e-tax bureaus for the remainder of the year
  • Ensuring that, by the end of the year, certain designated tax authorities have succeeded in abbreviating the tax processing time related to real estate transactions
  • By the end of October this year, reducing the time taken for the application and collection of tax invoices from qualified newly-established enterprises in designated pilot locations to just one day
  • By the end of 2018, ensuring that privately-owned businesses are able to instantly complete tax-deregistration formalities on a self-declaration basis
  • By the end of 2019, granting tax payers across the country the facility to file amendments to all types of tax returns and to make additional tax payments online within the tax filing period. This is intended to minimise the time tax payers are obliged to spend on tax-related matters

For details (in Chinese), please visit the following link:

Circular Regarding Matters Related to Implementing the Spirit of the National Teleconference on Deepening the Reform of Simplifying Administrative Procedures and Optimising Government Servicesand Optimising the Tax and Business Environment (Shui Zong Han No. 461 [2018])

Content provided by Picture: HKTDC Research
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