China alert: Technology, Media & Telecommunications Focus - Issue 1, May 2012
The Ministry of Finance (MoF) and the State Administration of Taxation (SAT) jointly issued Cai Shui  No. 27 (Circular 27) on 20 April 2012, interpreting the Corporate Income Tax (CIT) incentives for software and integrated circuit enterprises specified in Guo Fa  No. 4 (Circular 4) and clarifying certain implementation issues. Circular 27 will take effect retrospectively from 1 January 2011.