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Rumor: Online Radio Platform Qingting FM Wins RMB 1 Bln Series E Funding
Sansheng, 9/22/17
Shanghai-based Microphone Culture Media, operator of online and mobile radio platform Qingting FM, has reportedly completed more than RMB 1 bln in new funding, according to online news media outlet Sansheng. Read More
China Unveils Robotics Industry Development Plan
MIIT, 4/27/16
China's Ministry of Industry and Information Technology (MIIT), National Development and Reform Commission (NDRC), and Ministry of Finance (MOF) recently released a new robotics industry development plan for the 13th Five-Year Plan period (2016-2020). Read More
Rumor: Chinese Online Lottery Sales to Restart, Government to Release New Rules
CN Stock, 4/02/15
After a thorough inspection of online lottery sales, China's lottery websites have recently begun preparations to restart sales. Read More
China to Implement Telecom VAT Trials on June 1
China Mobile, 4/30/14
China Mobile (NYSE: CHL; 0941.HK) has announced in a regulatory filing that that its parent company, China Mobile Communications Corporation, received a notification jointly issued by China's Ministry of Finance and State Administration of Taxation that, as approved by China's State Council, the telecommunications industry will be included in the scope of the pilot program for the transformation from business tax to value-added taxes. Read More
China May Postpone Telecom VAT Trials Until June
China Times, 4/03/14
Wang Jun, secretary-general of Chinese tax agency industry alliance Wisemove Tax Cooperation Organization, has disclosed that the implementation of planned telecom operator value-added tax (VAT) trials in China may be postponed until June 1. Read More
China to Start Telecom VAT Trials in April
Tencent Tech, 3/06/14
According to draft legislation submitted by China's Ministry of Finance (MoF) to the National People's Congress (NPC) for deliberation yesterday, the MoF will implement telecom industry value-added tax (VAT) trials on April 1, switching telecom operators from a business tax to a value-added tax. Read More
China Lowers VAT on Domestically Developed Animation Software
Sina Tech, 1/02/14
China's Ministry of Finance (MoF) and State Administration of Taxation announced on December 31 that the 17% value added tax (VAT) levied on sales of domestically developed animation production software in China has been removed, effective retroactively from January 1, 2013 to December 31, 2017. Read More
Rumor: Online Lottery Operator E-Sun Sky to List in US
China Business News, 8/13/13
According to an industry insider, Shenzhen E-Sun Sky Network Co., Ltd, operator of online lottery sites 500wan.com and 500.com, will soon list on a US stock exchange, with investment banks Deutsche Bank and Stifel Nicolaus acting as the lead underwriters in the potential USD 150 mln deal. Read More
Rumor: China's Telecom VAT Rate Initially Set at 11%
Economic Information Daily, 6/17/13
On June 17, a financial reporter at the Economic Information Daily cited a source as saying that trials of a revised value-added tax (VAT) plan currently call for a VAT rate of 11% on China's telecommunications industry, but that telecom value-added services could be eligible for a 6% rate. Read More
Taiwan Investigates Taobao for Tax Evasion
Ebrun, 4/23/13
Taiwanese broadcaster TVBS reported on April 22 that Taiwanese customers purchase more than 10,000 products per day from Hangzhou-based C2C & B2C e-commerce site Taobao, generating NTD 46 bln in transactions in 2012 alone, up more than 65% from 2011. Read More
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