“The New York Times reported that China will temporarily allow foreign companies to not pay tax on their earnings. The exemption will ‘promote the growth of foreign investment, improve the quality of foreign investment and encourage overseas investors to continuously expand their investment in China,’ China’s Finance Ministry said in a statement Thursday. However, those companies must invest those earnings from the exemption in areas being promoted by the Chinese government, like technology and mining. The exemption is retroactive to Jan. 1, 2017.”
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