SAT Increases Deemed Profit Rates for Non-Resident Enterprises

China Briefing - Mar. 5 – The State Administration of Taxation has increased the corporate income tax deemed profits rates for non-resident enterprises carrying out services or projects in China.

Under Guoshuifa [2010] No. 19, issued on February 20, unless a resident enterprise is able to provide accurate accounting records, CIT liability for services or projects carried out in China will be determined using the following methods of calculating deemed profits: revenue, costs and operating expenses.

•  CHINA: Sharing benefits from carbon finance: lessons from the Guangxi CDM project
  World Bank - March 8, 2010 - Carbon finance projects are often intended to be both a payment for an environmental service (PES) and an instrument to facilitate sustainable development in developing countries. This note shares lessons learned from the Guangzi CDM project. Get the report
•  World Bank Loans Ningbo $59M for Wastewater Treatment

• China doubles wind power capacity in one year

Somebody forgot to tell the Chinese there was a slowdown in renewable energy investment last year. China doubled its installed wind power generation capacity from 12 gigawatts (GW) to 25 GW in 2009.

The Global Wind Energy Council says China became the world's largest market for wind turbines last year. And moving forward, that isn't likely to slow down. The nation plans to expand its wind power generation capacity to 150 GW by 2020.  DOE/Golden Field Office [PMCstakeholders@go.doe.gov]

• Re-Shoring – Bringing Manufacturing Back To American Suppliers

By Mike Collins, Author, Saving American Manufacturing

Product Design & Development – Feb 25 - A new type of Trade Fair is coming to the Hyatt Regency Hotel in Irvine, CA on May 12, 2010. 

Sponsored by the National Tooling and Machining Association and the Precision Metals Association, the Re-Shoring Fair is all about bringing back work that has been outsourced to foreign competitors. The 50 to 100 OEMs that are outsourcing machined components, stampings, special tooling, components and assemblies will meet American suppliers who want to bid on doing the work in the U.S.  http://www.pddnet.com/column-mike-collins-re-shoring-bringing-manufacturing-back-to-american-suppliers-021610/?wnnvz=1750,01297611734

• Oxygen Separation Membranes Made in China

      Chemical Engineering magazine - Feb., 2010 - Researchers from the Center for Membrane Technology, Beijing University of Technology (www.bjut.edu.cn) have developed a new spiral-wound membrane module for use in oxygen-enriched combustion.  A pilot-scale system with five membrane modules has been built and tested in a 4-ton, oil-fired boiler.

• Important VAT Notice for China-Based SME’s Over Tax Threshold Status

Asia Briefing - Feb 15 – The Chinese State Administration of Taxation has clarified the situation for small taxpayers whose annual turnover has exceeded the small taxpayer threshold.  Issued on January 25, Guoshuihan [2010] No. 35 requests that local tax bureaus bring forward and recognize all small taxpayers whose income exceeds the threshold to general taxpayer status by June 30, 2010. The circular also recognizes that small taxpayers must also recognize the change to general taxpayer status despite the fact that they will be unable to issue VAT invoices until the SAT upgrades its system. This issue is key as small taxpayers (businesses with a turnover of less than RMB500,000 for production, RMB800,000 for wholesaling or retailing) can currently enjoy VAT rates of 3 percent against the normal 17 percent.  www.asiabriefingmedia.com