China Tax/Business News Flash

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Aug 2011, Issue 18

Go west - New round of fiscal incentives for China's western region

The previous fiscal incentives for China's Western Region had expired at the end of 2010 and the market is eagerly waiting for the Chinese government to launch a new round of incentives for that region. On 27 July 2011, the Ministry of Finance, General Administration of Customs and State Administration of Taxation jointly issued circular Caishui [2011] No. 58 ("Circular 58") providing fiscal incentives to further support the country's go-west strategy. These incentives are effective retrospectively from 1 January 2011.

In this issue of News Flash, we would like to highlight the salient points of Circular 58 (with a comparison to the previous fiscal incentives) and share our observations.

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