Circular of the Ministry of Finance and the State Administration of Taxation Concerning Adjustments to Business Tax Policies for Foreign Invested Enterprises and Foreign Financial Enterprises

Circular of the Ministry of Finance and the State Administration of Taxation Concerning Adjustments to Business Tax Policies for Foreign Invested Enterprises and Foreign Financial Enterprises

Cai Shui [2001] No.74

April 25, 2001

To: Finance departments (bureaus), local taxation bureaus, the state taxation bureaus of Guangdong Province, Fujian Province, Hainan Province, Shanghai, and Jiangsu Province.

With a view to balancing the taxation burden among financial enterprises and promoting fair competition, and following the approval of the State Council, the business tax rate prescribed by the state shall be uniformly implemented with respect to all foreign invested financial enterprises and foreign financial enterprises established within the special economic zones (including the Pudong New Area in Shanghai and the Suzhou Industrial Park) on or subsequent to May 1, 2001.
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