MIIT: corporate restructuring assess appreciation of the rare earths, which do not levy income tax

This morning, Minister of Industry and Information Technology Miao Wei introduced comprehensive deepening reform and accelerating the industrialization of new work , and answered reporters' questions . Miao Wei said that in mergers and acquisitions of rare earth , infant formula and other industries , the Ministry is exploring fiscal and financial policy support , as is often said that we should pay a lot of business in the future through the assessment , there is a great appreciation of asset appreciation after a high income tax , the Ministry will promote the appreciation of this part can no longer corporate income tax.

Miao Wei said that in rare earths , such as infant formula in the number of firms in many industries , small scale, lack of market competitiveness. Encourage the promotion of corporate mergers and acquisitions , the government should prevent the past planned economy appeared in the role , but to create a relatively good environment for corporate mergers and acquisitions , relatively good condition. For example , now due to zoning restrictions of competition , a lot of very difficult cross-regional mergers and acquisitions involving GDP between how the two count , how grading issues related to taxation between the two places , the government should help solve these problems. As another example , cross-ownership mergers and acquisitions, private enterprises to participate in the reform and restructuring of state-owned enterprises more complex, between enterprises and should be negotiated by the negotiation.

He believes that the government in dealing with corporate mergers and acquisitions process should also give some fiscal and financial policy support. For example, corporate mergers and acquisitions , often after many enterprises through the assessment , there is a great appreciation of the assets , the appreciation of the future have to pay a high tax , the government has taken over the case special treatment approaches in the future may want to push the case management becomes universal policy , which is assessed after corporate mergers and acquisitions , can no longer be part of the appreciation of corporate income tax.

In addition , financial loans, there is little to adapt to domestic corporate restructuring , relatively long term loans , but there are ways the international capital markets to finance the lightning , that money needs to corporate mergers and acquisitions , financing from the capital markets , will soon be able to get the approval of the regulatory authorities , to raise a sum of money from the market .

" All in all , whether it is rare or, in other industries , what we are to create a relatively fair and equitable environment for enterprise mergers and acquisitions in this way . Of course, the real decision-making power corporate mergers and acquisitions , autonomy is still in business, not in the government. "


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