Nov. 2011 - New surcharge: Local Educational Surcharge

We wish to raise your attention on the notice Cai Zong Han [2011] no.57, issued on July 22nd, 2011, by the Ministry of Finance. The notice states that starting January 1st, 2012, all companies established in Beijing, including notably foreign invested companies, sino-foreign joint-ventures and representative offices of foreign enterprises, are liable to the Local Educational Surcharge (“LES”).