Circular of the Ministry of Finance, the State Administration of Taxation of the
[2008-12-23 17:03:19]
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Financial offices (bureaus), national tax administrations and local tax bureaus in all provinces, autonomous regions, municipalities and cities specifically designated in the sate plan, financial bureau of Xinjiang Production and Construction, and Ministry of Finance commissioners offices of financial supervision in all provinces, autonomous regions, municipalities and cities specifically designated in the sate plan:
With constant development of the social economy and profound reform of enterprises, here rise problems about criteria of the cognizance of new enterprises enjoy incentive income tax policies. With earnest studies, related matters on redefinition of criteria of the cognizance of new enterprises enjoy incentive income tax policies are now announced as follow: 1. Criteria on enterprises that enjoy regular reduction and exemption of tax. (1). Newly established enterprises that have registered at departments of industrial and commercial administration in line with related laws and regulations; (2). Generally, enterprises?? non-monetary assets like fixed assets and intangible assets from investors of rights and interests (shareholders and other investors of rights and interests) and related parties exceed 25 percent of the fund of registration. 2. In case enterprises?? non-monetary assets from investors of rights and interests and related parties exceed 25 percent of the fund of registration during periods of tax reduction and exemption, the enterprises will no longer enjoy the incentive income tax policies. 3. This circular takes effects as from the day of release. 4. The ??Article 6, on Concept of New Enterprises?? and its criteria of cognizance in State Administration of Taxation Circular on Several Specific Issues of Income Tax of Enterprises (No.229, 1994) are terminated at the same time. Ministry of Finance State Administration of Taxation |
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Keywords:Foreign Investment
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