Circular of the State Administration of Taxation on the Issues concerning the Collection of the Value-Added Tax for the Sino-Foreign Cooperative Exploitation of Land Petroleum Resources

Circular of the State Administration of Taxation on the Issues concerning the Collection of the Value-Added Tax for the Sino-Foreign Cooperative Exploitation of Land Petroleum Resources
Circular of the State Administration of Taxation on the Issues concerning the Collection of the Value-Added Tax for the Sino-Foreign Cooperative Exploitation of Land Petroleum Resources

Guo Shui Fa [1998] No.219

December 15, 1998

The state and local tax authorities of all provinces, autonomous regions, municipalities directly under the Central Government, and cities specifically designated in the state plan,

Recently, new progress has been made concerning the Sino-foreign cooperative exploitation of land petroleum and natural gas and the petroleum contracts signed between China and foreign parties (including risk exploration petroleum contracts, contracts for the exploration of unused reserves, exploration contracts for the improvement of the recovery rate, and petroleum contracts for the technological reform of single wells) that have successively reached the production period.
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