Circular of the Ministry of Finance and the State Administration of Taxation on the Issue of Calculating the Turnover Amount subject to Business Tax in the Lease Financing Industry

Circular of the Ministry of Finance and the State Administration of Taxation on the Issue of Calculating the Turnover Amount subject to Business Tax in the Lease Financing Industry

Cai Shui Zi [1999] No.183

June 24, 1999

The finance department (bureaus) of province, autonomous region, municipality directly under the Central Government and municipality separately listed on the state plan, the state and local taxation bureaus,

The Circular of the Ministry of Finance and the State Administration of Taxation on Transmitting of the (Cai Shui Zi [1997] No.45) prescribes that the turnover of the tax-payers involved in the financing and leasing industry is the difference between all charges from the lessee and fees beyond the charge (including the scrap value) deduct the cost of goods rented out the lessor should be responsible for.
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