The Beijing city government has revised its policies that have
until now allowed overseas investors to enjoy exemption or
reduction on land-use tax.
The Chinese capital is getting in line with a national law
requiring that local laws or regulations regarding foreign trade
and economic cooperation abide by national laws and regulations,
the city government said Sunday.
Beginning this year, the city's local taxation bureau will collect
fees on land-use rights from foreign companies by October 20 every
year.
Through an improved investment environment, foreign companies will
be able to get greater returns from their investments in Beijing,
said a local official.
(Xinhua News Agency September 3, 2002)
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