Investors in assets that are correlated with the value of sovereign debt will still be allowed to hedge their exposure by buying sovereign CDSs but it is unclear to what assets that exemption applies.

与主权债务价值有关的资产投资者还是可以通过购买主权CDS来规避承受风险，但是这种免税权适用于哪种财产尚不明确。

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Export-oriented enterprises to export products output value reached 70 percent, was exempt from local tax exemption of income tax profits from the export tax law.

商产品出口型企业出口产值达到70%，当年税率免征地方所得税免征所得利润汇出税法。

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The Senate proposals would chip away at that exemption by limiting the amount that would remain tax-deductible based on employees' incomes or the value of their plans, or both.

美国参议院计划在所有人的基础收入上进行金额限制以推行减税继续，或两者兼而有之。

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Some fear that Congress will cap the value of the tax exemption for munis, as the Obama administration has proposed doing to raise revenue.

WSJ: Conquering Retirement: The Case for Muni Bonds

If the estate's executor misses that crucial filing, the couple will likely lose the value of one partner's estate-tax exemption.

WSJ: Tax Report: Avoiding Estate-Tax Traps

In past years, the gift-tax exemption was often much smaller than the estate-tax exemption, which limited the early transfer of assets that were growing in value.

WSJ: How Much Will Your Taxes Jump?