Circular of the Ministry of Finance and the State Administration of Taxation on the Issues of Enterprise Income Tax Policies Relevant to the Implementation of the Enterprise Accounting Standards

Circular of the Ministry of Finance and the State Administration of Taxation on the Issues of Enterprise Income Tax Policies Relevant to the Implementation of the Enterprise Accounting Standards

Cai Shui [2007] No. 80

July 7, 2007

The financial departments (bureaus), national taxation bureaus and local taxation bureaus of all provinces, autonomous regions, municipalities directly under the central government and cities specifically designated in the state plan, the Finance Bureau of Xinjiang Production and Construction Corps, finance inspection commissioner offices of the Ministry of Finance in all provinces, autonomous regions, municipalities directly under the central government and cities specifically designated in the state plan,

In order to facilitate the implementation of the Enterprise Accounting Standards promulgated by the Ministry of Finance in 2006 (hereinafter referred to as the "New Accounting Standards") and reconcile the differences between accounting and taxation policies, the issues of enterprise income tax policies relevant to the implementation of the New Accounting Standards are hereby specified as follows:

I.
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