Circular of the State Administration of Taxation on Determination of the Profit-Making Year of Foreign-Investment Enterprise and Calculation of the Time Limit for Tax Reduction or Exemption
Circular of the State Administration of Taxation on Determination of the Profit-Making Year of Foreign-Investment Enterprise and Calculation of the Time Limit for Tax Reduction or Exemption
Circular of the State Administration of Taxation on Determination of the Profit-Making Year of Foreign-Investment Enterprise and Calculation of the Time Limit for Tax Reduction or Exemption
Guo Shui Fa [1995] No. 121
June 28, 1995
The Offices of the State Administration of Taxation in all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the state plan,
According to the Income Tax Law of the People's Republic of China on Foreign-invested Enterprises and Foreign Enterprises (hereinafter referred to as the Income Tax Law) and relevant provisions of its Detailed Rules for Implementation, the issue on how to determine the profit-making year of foreign-investment enterprise and calculate the time limit for reduction or exemption of business income tax when a foreign-investment enterprise makes profits during the opening year but makes a loss in the next year is hereby notified as follows:
According to the provisions of Articles 76 and 77 in the Detailed Rules for Implementation of the Income Tax Law, the year during which foreign-investment enterprise opens for business and makes profits shall be deemed as the profit-making year as prescribed by Item 1 in Article 8 of the Income Tax Law and Article 75 of its Detailed Rules for Implementation regardless of the duration of the operation period during the opening year.
......
Guo Shui Fa [1995] No. 121
June 28, 1995
The Offices of the State Administration of Taxation in all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the state plan,
According to the Income Tax Law of the People's Republic of China on Foreign-invested Enterprises and Foreign Enterprises (hereinafter referred to as the Income Tax Law) and relevant provisions of its Detailed Rules for Implementation, the issue on how to determine the profit-making year of foreign-investment enterprise and calculate the time limit for reduction or exemption of business income tax when a foreign-investment enterprise makes profits during the opening year but makes a loss in the next year is hereby notified as follows:
According to the provisions of Articles 76 and 77 in the Detailed Rules for Implementation of the Income Tax Law, the year during which foreign-investment enterprise opens for business and makes profits shall be deemed as the profit-making year as prescribed by Item 1 in Article 8 of the Income Tax Law and Article 75 of its Detailed Rules for Implementation regardless of the duration of the operation period during the opening year.
......