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Regulations on Some Policy Issues Concerning the Income Tax for Enterprises

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Regulations on Some Policy Issues Concerning the Income Tax for Enterprises

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    Regulations on Some Policy Issues Concerning the Income Tax for

    Enterprises

    2009-05-05

    Cai Shui Zi [1994] No.009

     I. Tax on the other units and organizations with operating income

     I The social organizations and public institutions responsible for

    its own income and expenditure and practicing enterprise management

    shall pay income tax locally for their production and operating income

    and other income.

     II The other social organizations and public institutions shall pay

    income tax as required for their production and operating income and

    other income.

     II. Tax on affiliated enterprises

     I Before distributing profit the affiliated enterprises shall pay income tax locally for their production and operating income. The losses

    of affiliated enterprises shall be offset by them in accordance with

    relevant provisions.

     II With respect to the after-tax profit distributed by an affiliated

    enterprise to its investor if the investor's business income tax rate is lower than that of the affiliated enterprise the income tax paid shall not be refunded if the investor's business income tax rate is higher than that

    of the affiliated enterprise the investor shall pay income tax for the

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    distributed after-tax profit. The computing formulae of additional income

    tax are as follows

     1. Taxable income from the affiliated enterprise = profit distributed

    to the investor?1-income tax rate of the affiliated enterprise

     2. Income tax payable = taxable income from the affiliated

    enterprise × tax rate applicable to the investor

     3. Tax deduction = taxable income from the affiliated enterprise ×

    income tax rate of the affiliated enterprise

     4. Additional income tax = income tax payable - tax deduction

     III. Enterprises may adjust tax payment for the dividends and

    bonuses from investment by reference to the provisions on the affiliated

    enterprises.

     IV. The income tax on the affiliated enterprises and joint-stock

    enterprises formed by central and local enterprises public institutions

    shall be imposed by central tax bureaus and their directly-controlled

    institutions. The income tax on the affiliated enterprises and joint-stock

    enterprises formed by local enterprises and public institutions shall be

    imposed by local tax bureaus.

     V. Salary expenditure of enterprises

     I With respect to the enterprises that link total payroll with

    economic benefits with approval of competent authorities the salaries

    paid may be deducted from the taxable income if the growth rate of total

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    average payroll of employees is lower than that of the labor productivity.

     II The salaries set aside from the retained profits by the catering

    service enterprises in accordance with state provisions may be deducted

    from the taxable income.

     III The other enterprises not subject to the measures above shall

    comply with the measures for salaries subject to tax. The salaries paid

    within the standard for the taxable salaries may be deducted from tax

    according to the actual payment. The part in excess of the standard shall

    not be deducted from the taxable income. The maximum limit for

    monthly deduction of taxable salaries shall be RMB500 per head with

    the specific deduction standards to be determined by the people's

    government of each province autonomous region and municipality

    according to local industrial situations and filed with the Ministry of

    Finance. Several economically developed regions may be not more than

    20% higher than the maximum limit when necessary and shall report to the Ministry of Finance for approval. The Ministry of Finance will make

    appropriate adjustment to the taxable salary limit according to the

    consumer price index published by the National Bureau of Statistics

    and each region may adjust its taxable salary standards accordingly.

     VI. Depreciation of fixed assets

     The depreciation life of fixed assets of enterprises shall comply with

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    Ministry of Finance.

     With respect to a small number of urban collective enterprises and

    township enterprises which need to reduce the depreciation life for

    special reasons these enterprises may file an application to the tier-1

    local tax bureaus of provinces autonomous regions and municipalities

    through consultation with the financial departments bureaus)。 But the depreciation life shall not be lower than the life specified below

     I Housing and building 20 years

     II Train steamship machinery and other production

    equipment 10 years

     III Electronic equipment other transportation tools other than

    train and steamship and the devices tools and furniture relating to

    production and operation 5 years.

     VII. Tax payment methods

     I The taxpayers of the enterprise group shall be the core

    enterprises and other member enterprises with independent economic

    accounting and all taxpayers shall pay income tax locally.

     II The income tax on some special industries and enterprises shall

    be handled according to the methods as below

     1. The income tax on the transportation enterprises including enterprises concurrently engaged in industry directly under the Ministry

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     2. The income tax on the transportation enterprises excluding Air China China Eastern Airlines and China Southern Airlines which pay

    income tax independently directly under the General Administration of

    Civil Aviation of China GACA shall be paid collectively by the

    GACA by the end of 1994.

     3. The postal and communication enterprise including industrial enterprises supply and marketing enterprises directly under the Ministry of Posts and Telecommunications shall be paid collectively by

    the ministry by the end of 1995.

     VIII. Linkage of industrial policies

     I With respect to the industries and enterprises adopting the profit

    contracting system or the system of handling over contracting income

    no matter whether the contracting matures or not these industries and enterprises shall pay income tax in accordance with the Interim

    Regulations on Income Tax for Enterprises and the implementing rules

    thereof.

     II Foreign trade enterprises that have not substituted profit

    delivery by tax payment shall pay income tax in accordance with the

    Interim Regulations on Business Income Tax and the implementing rules

    thereof.

     III Military enterprises shall pay income tax in accordance with

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    the Interim Regulations on Business Income Tax and the implementing

    rules thereof.

     IX. Two-tier preferential tax rates

     The enterprises with annual taxable income no more than RMB30

    000 shall pay income tax at a rate of 18% for the time being. The

    enterprises with annual taxable income of RMB30000-RMB100000

    inclusive shall pay income tax at a rate of 27% for the time being.

     X. Linkage of other related policies

     I Enterprises are allowed to make up for the losses occurring after

    January 1 1993 in accordance with the life specified in the new tax law.

    The losses occurring in the previous years shall be made up according to

    the original life.

     II The administrative fee paid by enterprises to their competent

    authorities at the ratio approved by the fiscal and tax authorities is

    allowed to be deducted from taxable income during the Eighth Five-Year

    Plan period. The administrative fee saved by competent authorities may

    be carried forward to the next year by reducing the set-aside proportion or

    amount of the same year correspondingly.

     III The membership fee paid by enterprises to the associations of

    commerce and industry is allowed to be deducted from the taxable

    income. The membership fee saved by the associations of commerce and

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    membership fee payable of the same year.

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