The Ministry of Finance is urgently finalizing a proposal to develop a National Assembly (NA) resolution on the application of additional corporate income tax in accordance with the provisions against erosion of the global tax base, to report to the competent authorities and supplement the 2023 Law and Ordinance Development Program. According to the one-session process, the resolution is expected to be submitted to the NA for approval at the 6th Session.
Kenneth Leung of KPMG China considers how the relaxation of restrictions on bonded refurbishment can potentially ease supply chain disruptions encountered by medical device businesses in China.