Discrepancies between policies for foreign and local enterprises remains evident in China with foreign enterprises enjoying preferential treatment in the form of lower taxes and cheaper land and resources.
China”s Vice Premier Wang Qishan has responded to complaints indicating that China is in a “transition period”. Since December 2010, China has undergone many policy changes including a surtax for municipal maintenance and construction as well as an education tax for foreign enterprises demonstrating the unification of the tax system among local and international companies.
With intellectual property rights being a major concern for foreign enterprises, China has committed to tackling these concerns. Last October saw the launch of a six month campaign to combat pirated goods in a bid to promote copyright protection. This has been applauded by John Bryson, US Secretary of Commerce, as a “step in the right direction”.
If you would like more information on protecting your Intellectual Property, please do not hesitate to contact us on 02 9653 9127Â or email us at enquiry@hornetgroup.com.au.
References
Ding, Q. & Li, J (2011), Govt Tries to Soothe Companies’ Concerns, China Daily, viewed 2 Dec, 2011, http://usa.chinadaily.com.cn/business/2011-11/29/content_14179012.htm