Circular of the State Administration of Taxation on Income from Tax Exemption for Losses Incurred by Enterprises

Circular of the State Administration of Taxation on Income from Tax Exemption for Losses Incurred by Enterprises


Circular of the State Administration of Taxation on Income from Tax Exemption for Losses Incurred by Enterprises

Guo Shui Fa [1999] No. 34

March 5, 1999

The taxation bureaus of all provinces, autonomous regions, municipalities and cities specifically designated in the state plan, and the local taxation departments,

On the basis of feedback received from various regions and their respective needs and requirements, in order to allow for the actual business results of enterprises to be reflected and facilitate the accurate calculation of losses that can be used for tax exemption by carrying them forward to the following year, the Circular of the State Administration of Taxation on Income from Tax Exemption for Losses Incurred by Enterprises is hereby clarified as follows:

In accordance with tax law provisions, certain enterprise projects are eligible for tax exemption.
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