Regulations
China Accounting News Weekly[No.267]
Posted by:Admin|Published:11/05/2015 10:17|hits:105
        China Accounting News Weekly[No.267]2015.10.26-2015.11.2Publication of the listing corporations’ annual accounting supervision report of 2014

        In general, the listing corporations can better understand and implement the enterprise accounting standards, the internal control standards and the related disclosure rules of financial information, but there are still some corporations having the problems that the accounting treatment is not correct and the disclosure of financial information and internal control information lacks of standardization. The main problems existing in accounting treatment include: the non-strict implementation of enterprise accounting standards, inconsistent accounting treatment of the similar transactions or matters, not correctly distinguishing between the accounting policy changes, accounting error correction and accounting estimates adjustment.

        Market structure analysis on certified tax industry of 2014

The scale of our country's certified tax agent firms mainly concentrated in the ones with the annual income of 10,000,000 Yuan or below, which accounted for 95.25% of the country's total. There are 13 certified tax agent firms with the annual income of 100,000,000 Yuan or above, and only 3 firms between 50,000,000 Yuan and 100,000,000 Yuan, and 37 firms between 30,000,000 Yuan and 50,000,000 Yuan.

        Why the enterprises dare not engage in a lawsuit with the tax authorities?

        The current tax cases are very few, which is connected with the eighty-eighth article of the current tax administration law. The article says, when the taxpayers, withholding agents and tax guarantors have a dispute with the tax authorities on tax, one must first decide the taxation of payments or remits and overdue fine or provide the corresponding guarantee in accordance with the tax condition of the tax authorities, then one can apply for administrative reconsideration in accordance with the law; and if one refuses to accept the decision of the administrative reconsideration, one can file a lawsuit to the people's court in accordance with laws. This article is called 'spending money to buy relief', that is, the taxpayers must pay the assumed tax before applying for administrative reconsideration, and if they cannot pay this assumed tax, they will not be able to engage in a lawsuit. The latest revision of tax administration law has made some changes to the article.

        The board of directors selects and employs the general managers and the general managers of the central enterprises are no longer the officials

        On October 15, Xinxing Cathay held a cadre meeting and the chairman, Liu Mingzhong, on behalf of the board of directors announced to appoint Yang Bin as the general manager of the group company and signed the employment contract of general manager with him and presented the appointment letter, which is the first time in the central enterprises. So far, there have been 74 central enterprises establishing the modern board of directors system, but not all of the directors have the actual decision-making power of appointment and removal as Xinxing Cathay, and most are figureheads or empty titles.
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