Gasgoo.com (Shanghai December 12) - The Ministry of Industry and Information Technology and State Administration of Taxation have released new policies regarding management and taxation of automobile production factories, chinanews.com reported today.
According to the policies, management standards for automobile factories will be improved and unified, allowing production work to be conducted more smoothly. Automobile factories will be requested to increase the frequency with which they make status reports, as well as supply more information in said reports. The new standards will come into effect next April. The MIIT will penalize companies failing to meet these standards, and will maintain the power to temporarily revoke their production licenses.
At the same time, the factories will be required to send information to the government regarding sales taxes of their manufactured vehicles. Companies whose factories fail to adhere to this request will be fined by the State Administration of Taxation.
