Circular of the State Administration of Taxation on Issues concerning the Applicable Regular Tax Reduction and Exemption on Income due to Liquidation by Enterprise with Foreign Investment
Circular of the State Administration of Taxation on Issues concerning the Applicable Regular Tax Reduction and Exemption on Income due to Liquidation by Enterprise with Foreign Investment
Circular of the State Administration of Taxation on Issues concerning the Applicable Regular Tax Reduction and Exemption on Income due to Liquidation by Enterprise with Foreign Investment
Guo Shui Fa [1993] No.8
June 15, 1993
With regards to the question as to whether or not enterprises with foreign investment which which has gone through the liquidation process within the regular tax reduction and exemption period as stipulated in Article 8 of the Income Tax Law of the People's Republic of China on Foreign-invested Enterprises and Foreign Enterprises (hereinafter referred to as Tax Law) can enjoy enterprise income tax reduction and exemption, clarification is hereby made as follows:
The stipulation set in Article 8 of the Tax Law which states "Productive enterprise with foreign investment scheduled to operate for a period over 10 years shall be exempted from enterprise income tax in the first two profit-making years and be granted a 50 percent enterprise income tax reduction in the third to the fifth year" applies only to the income gained during the enterprise's operational period.
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Guo Shui Fa [1993] No.8
June 15, 1993
With regards to the question as to whether or not enterprises with foreign investment which which has gone through the liquidation process within the regular tax reduction and exemption period as stipulated in Article 8 of the Income Tax Law of the People's Republic of China on Foreign-invested Enterprises and Foreign Enterprises (hereinafter referred to as Tax Law) can enjoy enterprise income tax reduction and exemption, clarification is hereby made as follows:
The stipulation set in Article 8 of the Tax Law which states "Productive enterprise with foreign investment scheduled to operate for a period over 10 years shall be exempted from enterprise income tax in the first two profit-making years and be granted a 50 percent enterprise income tax reduction in the third to the fifth year" applies only to the income gained during the enterprise's operational period.
......