On December 2 the twenty-fifth Climate Summit begins in Madrid. The meeting takes place at a time when the European Union is promoting specific measures to fulfil the commitments acquired in the Paris Agreement, and Spain has set in motion the Strategic Energy and Climate Framework.
What exactly is a green loan? The term is being used in banking and finance news, in which the common denominator is the funding of renewable energy, energy efficiency, prevention and control of contamination, 'clean' transport and other projects related to environmental sustainability.
On May 14, 2018, the Chilean President Sebastián Piñera and the Minister of the Economy José Ramón Valente announced: (i) that a bill would be sent to the Chilean legislature to promote the government’s “Pro-Investment Agenda” (the “Bill”); and (ii) that the government will create a Chilean Sustainability Project Management Office (“OGPS”).
This issue of Tax China Newsletter mainly includes: (1) Certain types of distributed profits re-invested in resident enterprise by overseas investors will enjoy beneficial tax deferral policy (Announcement of the State Administration of Taxation (“SAT”) [2018] No. 3 and Cai Shui [2017] No. 88); (2) The definition of the beneficial owner in tax treaties has been further clarified under Announcement of the SAT [2018] No. 9; (3) Announcement of the SAT [2018] No. 11 has further clarified a number of issues in the implementation of double taxation treaties; (4) The SAT issued the Announcement of the SAT [2017] No.46 regarding the country by country report; and (5) Implementation Regulations of Environmental Protection Tax Law is in effect since January 1, 2018.