Provisions concerning Business Tax Accounting Treatments

Provisions concerning Business Tax Accounting Treatments
Provisions concerning Business Tax Accounting Treatments

Cai Kuai Zi[1993]No. 83 Appendix 3

December 30, 1993

The "Interim Regulations of the People's Republic of China on Business Tax" was promulgated by the State Council. The provisions concerning the accounting treatments are hereby stipulated as follows:

I. Business tax payable by enterprises shall be recorded under the account titled "Tax payable--Business Tax payable".

II. Enterprises shall calculate payable Business Tax based on the turnover and prescribed tax rate, debit it from the accounts titled "Business tax and surtax" (financial and insurance enterprises, travel and catering service enterprises, posts and telecommunication enterprises, civil airline and agricultural enterprises), "Operation tax and surtax" (real estate development enterprises), "Transportation business tax and surtax" (transportation and communication enterprises), "Transport tax and surtax" (railway transport enterprises), "Project tax and surtax" (construction enterprises), "Operating cost" (foreign economic enterprises), etc.
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