Circular of the State Administration of Taxation on Income Tax on Interest Income Derived by Foreign Banks from Foreign-Invested Financial Institutions in China

Circular of the State Administration of Taxation on Income Tax on Interest Income Derived by Foreign Banks from Foreign-Invested Financial Institutions in China


Circular of the State Administration of Taxation on Income Tax on Interest Income Derived by Foreign Banks from Foreign-Invested Financial Institutions in China

Guo Shui Han [1997] No.372

June 19, 1997

The national and local tax bureaus of various provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the state plan:

Recently, many regions inquired whether interests from loans by foreign banks to financial institutions within the territory of China such as foreign-invested banks, the branches of foreign banks, Chinese-foreign joint venture banks, foreign-invested financial companies and financial companies of Chinese-foreign joint venture (hereinafter referred to as Foreign- invested Financial Institutions) is entitled to the tax exemption stipulated in the third Subparagraph of Paragraph 3 of Article 19 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).
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