On 18 August 2015, China's State Administration of Taxation (SAT) issued Announcement No. 58 of 2015. The announcement notifies tax authorities at all levels on the cancelation of the administrative pre-approval requirement for 22 tax items. The change is part of China's efforts to decentralize and simplify certain tax-related matters.
The items include certain tax exemptions and other concessions available in several areas, such as:
- Western regions development;
- Technology transfers;
- Ventur…