[Tariffs Changes] China Issues Decree Ending Three Tax, Fee Regulations

China's State Council,or cabinet, issued a decree signed by Premier Wen Jiabao in Beijing on Wednesday abolishing three tax and fee regulations.

The provisional regulation governing urban real estate tax, promulgated in 1951, is abolished as of Jan. 1, 2009.

From Jan. 1, 2009, foreign-invested companies, wholly foreign-funded companies and organizations and foreign nationals shall pay real estate tax under the interim regulations of the People's Republic of China on real estate tax.

The Yangtze River maintenance fee collection regulation promulgated in 1987 is abolished as of Jan. 1, 2009.

The inland river maintenance fee collection regulation promulgated in 1992 is also abolished as of Jan. 1, 2009.