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China New Regulations 2021

A series of new regulations have taken effect in China on the 1st of January 2021, including the first civil code.

  • Civil Code of the People's Republic of China, January 1st, 2021

  • Measures on Environmental Management Registration of New Chemical Substances, January 1st, 2021

  • Notice on Revising and Issuing the Accounting Standards for Business Enterprises No. 14 Revenue (New Accounting Standards) January 1st, 2021

  • Measures for the Security Review of Foreign Investment, January 18th, 2021

  • The People’s Republic of China Bio Security Law April 15th, 2021

  • The Copyright Law of the People's Republic of China, June 1st, 2021

  • The Patent Law of the People's Republic of China, June 1st, 2021

  • Personal Information Protection Law (draft published for comment, expected in 2021)


Along the aforementioned laws below are a number of new tax regulations effective from the 1st of January 2021.

1. Announcement of the State Taxation Administration [2020] No. 19 Announcement of the State Taxation Administration on Further Simplifying and Optimizing the Method for the Withholding and Prepayment of Individual Income Tax on Some Taxpayers http://www.chinatax.gov.cn/chinatax/n363/c5159450/content.html

2. Announcement of the Ministry of Finance and State Taxation Administration [2020] No. 43 Announcement on Matters Relating to the Pre-tax Deduction of Advertising Expenses and Business Promotion Expenses http://www.chinatax.gov.cn/chinatax/n362/c5159609/content.html

3. Announcement of the Ministry of Finance, State Taxation Administration and Ministry of Industry and Information Technology [2020] No.21 Announcement on the Policy for Exemption from Vehicle Purchase Tax on New-energy Vehicles http://www.chinatax.gov.cn/chinatax/n371/c5148803/content.html

4. Taxation Committee (2020) No.33

Notice of the Customs Tariff Commission of the State Council on the Tariff Adjustment Plan for 2021 http://gss.mof.gov.cn/gzdt/zhengcefabu/202012/t20201223_3636573.htm


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