Circular of the Ministry of Finance and the State Administration of Taxation on the Promulgation of the Interim Measures for the Calculation and Collection of Tax on Overseas Income (Revision)
Circular of the Ministry of Finance and the State Administration of Taxation on the Promulgation of the Interim Measures for the Calculation and Collection of Tax on Overseas Income (Revision)
Circular of the Ministry of Finance and the State Administration of Taxation on the Promulgation of the Interim Measures for the Calculation and Collection of Tax on Overseas Income (Revision)
Cai Shui Zi [1997] No. 116
November 25, 1997
The financial departments (bureaus), offices of the State Administration of Taxation and local taxation bureaus of all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the State plan,
In order to implement Article 12 of the Interim Regulations of the People's Republic of China on Enterprise Income Tax, the Tentative Measures for the Calculation and Collection of Tax on Overseas Income were issued by the Ministry of Finance and the State Administration of Taxation on September 22, 1995, and implemented as of 1994. In general, the document, during three years of the implementation, have safeguarded the national interests as well as those of the enterprises. However, there are also problems such as operating difficulties and vague definition of concepts. In order to further embody the policy of the State encouraging the development of the foreign cooperation enterprises, the Tentative Measures for the Calculation and Collection of Tax on Overseas Income have been revised according to the actual developing conditions of foreign trade and economic cooperation enterprises currently and are hereby promulgated, and shall come into force as of January 1, 1997. The original Measures promulgated in 1995 shall be repealed simultaneously.
Appendix:
Interim Measures for the Calculation and Collection of Tax on Overseas Income (Revision)
I.
......
Cai Shui Zi [1997] No. 116
November 25, 1997
The financial departments (bureaus), offices of the State Administration of Taxation and local taxation bureaus of all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the State plan,
In order to implement Article 12 of the Interim Regulations of the People's Republic of China on Enterprise Income Tax, the Tentative Measures for the Calculation and Collection of Tax on Overseas Income were issued by the Ministry of Finance and the State Administration of Taxation on September 22, 1995, and implemented as of 1994. In general, the document, during three years of the implementation, have safeguarded the national interests as well as those of the enterprises. However, there are also problems such as operating difficulties and vague definition of concepts. In order to further embody the policy of the State encouraging the development of the foreign cooperation enterprises, the Tentative Measures for the Calculation and Collection of Tax on Overseas Income have been revised according to the actual developing conditions of foreign trade and economic cooperation enterprises currently and are hereby promulgated, and shall come into force as of January 1, 1997. The original Measures promulgated in 1995 shall be repealed simultaneously.
Appendix:
Interim Measures for the Calculation and Collection of Tax on Overseas Income (Revision)
I.
......