China offers tax break to foreign companies

It is also retroactive to January 1, 2017, meaning such companies will receive a refund on taxes paid this year.

China is offering foreign companies a tax break to encourage them to keep their earnings on the mainland, a step that follows a US tax overhaul that aims to entice American firms to bring their overseas cash back home.

China is offering foreign companies a tax cut in a bid to keep companies' earnings on the mainland, Caixin reports. This decision will "foster growth in foreign investment, improve the quality of foreign investment, and encourage foreign investors to continuously expand their investments in China", said the finance ministry in Beijing.

The country is expected to continue to advance tax reform next year, including a further reduction of value-added tax and cuts in government administrative fees, with a view to lowering enterprises' operational costs while improving their profits, according to Liu. Businesses in China pay 25 percent.

But foreign companies have long complained of the onerous bureaucracy they must navigate, barriers to market access, and policies that favor local firms.

After the USA cut the corporate tax rates in an attempt to keep more companies on US soil, China answered back with new corporate tax incentives.

Roy Moore files complaint to block Alabama Senate result
The 22,852 write-in votes cast on December 12 included some perhaps unsurprising picks, like Alabama's appointed U.S. The complaint also noted the higher-than-expected turnout in the race, particularly in Jefferson County.

The exemption applies to companies that have their profits re-invested in industries that are cited in government investment catalogs. ABC News has reported that the Organization for Economic Cooperation and Development places China third from last place when it comes to "openness to foreign investment".

With the new tax law, some companies reportedly already said they sought to repatriate their earnings to the United States.

Beijing has been keen to retain foreign investment after it fell in 2016.

Official data in China show foreign investment into China grew by only 1.9% during the 10 months between January and October of this year compared to last year's data, but did jump during November.

According to finance minister Zhu Guangyao who spoke at a Phoenix TV finance forum earlier this month, China could not ignore the spillover effects from the change in tax policy of the world's largest economy.

The White House has said U.S and Chinese officials are fleshing out a pledge by leaders and for a 100-day plan to cut the US trade deficit with China, which reached $347 billion previous year.

(Copyright © 2015. All Rights Reserved.)

Germany's biggest New Year's Eve party sets up safe zone for women
The idea of a safe space for women has not been welcomed by everyone, with some critics claiming it is discriminatory. The zone bears an English name: " Women's Safety Area ".

Top Performer of the day: The Goodyear Tire & Rubber Company (GT)
BidaskClub raised shares of Goodyear Tire & Rubber from a "sell" rating to a "hold" rating in a report on Saturday, October 21st. Credit Suisse Group AG (CS) exchanged hands at an unexpectedly low level of 0.97 million shares over the course of the day.

Liquor stores will be closed New Year's Eve
Now that Christmas is out of the way, it's time to start to think about those New Year's Eve plans. M&R Liquor Owner, Charles Leard said that day was the busiest day of the year they have seen.

Bitter cold spurs postponement of 2 more polar bear plunges
Ventnor's annual event is the only such Polar Bear Plunge to be canceled as of Wednesday, according to the Philly Voice . While the event is free, all swimmers are asked to sign a liability release form before participating in the event.

One teen shot and killed and two others injured in apartment shooting
The shooting occurred around 4:10 the 14300 block of South Post Oak Road, near West Orem police said. Two people were killed after a gunman opened fire at a Houston auto fix shop yesterday.

Authorities: Florida man tried to electrocute pregnant wife
She said his behavior changed and at the end of November he was placed in a mental health facility under the state's Baker Act. After a warrant was issued for his arrest by Florida authorities, Wilson was taken into custody in Knoxville on December 28.

Green Bay Packers forked elite money over to Davante Adams
The Green Bay Packers may be out of the postseason race, but they still have a lot to look forward to heading into the offseason. The Packers reportedly signed wide receiver Davante Adams to a four-year extension, as first reported by ESPN's Adam Schefter.

Glaxosmithkline Plc (GSK) Holder First Allied Advisory Services INC Lifted Position
The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link . TRADEMARK VIOLATION NOTICE: This article was originally posted by Week Herald and is the property of of Week Herald.

Whiting Petroleum (WLL) Earns Neutral Rating from Analysts at Credit Suisse Group
The stock of Whiting Petroleum Corporation (NYSE:WLL) has "Underweight" rating given on Wednesday, October 18 by Morgan Stanley. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in Whiting Petroleum Corp by 18.6% in the fourth quarter.

These are the most anticipated movies of 2018 (according to moviegoers)
The Chadwick Boseman-led solo film has been generating massive buzz thanks to its electric trailers and diverse cast. The new year is just around the corner and with it comes a whole lot of new (and exciting) film releases.

Lake Effect snow returns Saturday Night, persists well into next week
Temperatures start near 10 degrees Monday for New Year's Day and only rise to the mid-upper teens as the week goes on. In the satellite image above, parallel "cloud streets" carry heavy snow out of the Great Lakes on Christmas Day 2017.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) CFO Sells 14369 Shares of Stock
Equities research analysts anticipate that Cognizant Technology Solutions Corp will post $3.66 EPS for the current fiscal year. Cowen & Co maintained Cognizant Technology Solutions Corporation (NASDAQ: CTSH ) on Wednesday, September 6 with "Buy" rating.

Fatal Kan. officer-involved shooting during false report of hostage situation
A fake " swatting " call has left a 28-year-old man from Kansas dead after being accidentally shot by police . Both explanations are bad and hopefully, some justice can be brought to the real innocent man, Andrew Finch .

(IPI)'s Fuel For Real? The Stock Just Increased Again
Intrepid Potash, Inc . has a fifty-two week low of $1.24 and a fifty-two week high of $4.63. (NYSE: IPI ) or 85,825 shares. Stephens began coverage on Intrepid Potash in a research report on Monday, December 4th. (NYSE: IPI ) for 431,406 shares.

Were Analysts Bullish MGM Resorts International (NYSE:MGM) This Week?
The stock of MGM Resorts International (NYSE: MGM ) earned "Outperform" rating by Telsey Advisory Group on Friday, December 9. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock.

More News

More News