China Tax/Business News Flash

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Dec 2009, Issue 28

Clarification of various China tax issues on equity transfers by non-China tax residents

In our earlier News Flash [2009] Issue 27, we reported that the State Administration of Taxation ("SAT") has issued Guoshuihan [2009] No. 698 ("Circular 698") on 10 December 2009 addressing various tax issues on equity transfers by non-China Tax Resident Enterprises ("Non-TREs") and the circular is made retrospective to 1 January 2008. In that News Flash, we focused on the issues arising from "indirect equity transfer" undertaken by the Non-TREs outside China ("indirect transfer"). In this issue, we will focus on the other tax issues addressed in Circular 698 and share our observations.

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