|
Welcome Guest
|
|
You are using Guest Account
|
|
||||||||||||||||||||||||||||||||||
|
In order to support the deepening of the reforms of enterprises, speed up the establishment of modern enterprise system, and promote the sustainable and sound development of national economy, several deed tax policies concerning the reorganization and restructuring of enterprises are specified hereby as follows. I. INCORPORATION OF ENTERPRISES In case non-company enterprises are incorporated into limited liability companies (including the wholly state-owned companies), companies limited by shares, or limited liability companies into companies limited by shares in accordance with the Company Law of the People's Republic of China, the deed taxes to the land use right and house ownership succeeded by the companies from the original enterprises shall be exempted. In case non-company state-owned enterprises or wholly state-owned limited companies invest part of their assets to incorporate new companies with others, and the share of the state-owned enterprises or companies exceeds 50% in the new company, the deed taxes to the land use right and house ownership succeeded by the new company from the state-owned enterprises or companies shall be exempted. II. RESTRUCTURING OF ENTERPRISES In case the shares held by enterprises are assigned to individuals or other legal entities, the deed taxes shall not be levied because the land use right and house ownership are not transferred. In case the state-owned or collectively-owned enterprises are reformed into the cooperative share enterprises, where the employees purchase the property of the enterprise, or the employees are assigned part of the enterprise assets, or the capital of the enterprise is increased through the investment of the employees, the deed taxes to the land use right and house ownership succeeded by the cooperative share enterprises from the original enterprises shall be exempted. III. MERGER OF ENTERPRISES In case two or more enterprises merge into one enterprise in accordance the law or contract, the deed taxes to the land use right and house ownership succeeded by the new enterprise from the original enterprises shall be exempted. IV. DIVISION OF ENTERPRISES In case one enterprise is divided into two or more enterprises with the same investors in accordance with the law or contract, the deed taxes to the land use right and house ownership succeeded by the derivative party and the newly-established party from the original enterprises shall be exempted. V. SALES OF ENTERPRISES In case the state-owned or collectively-owned enterprises are sold, and the original legal persons are cancelled, half of the deed taxes to the land use right and house ownership succeed by the buyer from the sold enterprises shall be exempted, proper that proper arrangements have been made for not less than 30% of the employees of the original enterprises, and all the deed taxes shall be exempted on condition that proper arrangements have been made for all the original employees. VI. CLOSEDOWN OR BANKRUPTCY OF ENTERPRISES In case the enterprises are closed down or bankrupted according to the regulations of the relevant laws, the deed taxes to the land use right and house ownership succeeded by the creditors (including the employees of the closed or bankrupted enterprises) from the enterprises as compensation for debt shall be exempted. Half the deed taxes to the land use right and house ownership succeeded by the non-creditors from the enterprises shall be exempted, provided that proper arrangements have been made for not less than 30% of the employees of the original enterprises, and all deed taxes shall be exempted on condition that proper arrangements have been made for all the original employees. VII. OTHER CIRCUMSTANCES In case the enterprises transfer debts into shares with the permission of the State Council, the deed taxes to the land use right and house ownership succeeded by the new company from the original enterprises shall be exempted. The deed taxes shall not be levied on the land use right and house ownership transferred in the regulating of the state-owned assets by the governmental departments in charge. In the process of enterprise reorganization and restructuring, the deed taxes shall not be levied on the land use right and house ownership transferred free of charge between the enterprises affiliated to the same investors. "Proper arrangements have been made for the employees of the original enterprises", stated in Articles 5 and 6, indicates that the buyers of the state-owned and collectively-owned enterprises or the successors of the land use right and house ownership of the closed or bankrupted enterprises have reasonably compensated the employees of the original enterprises according to the relevant regulations, and signed the labor contract with the employees with a service term of not less than 3 years, and implemented the relevant policies in line with the Labor Law. The notice shall be effective from October 1, 2003 to December 31, 2005. From the implementation of this notice, the Notice of the Ministry of Finance and the State Administration of Taxation on Deed Tax Policies Concerning Enterprise Reforms (No.161 [2001] of the Ministry of Finance) shall be suspended from implementation. Before that, the deed taxes haven't been paid but should be paid according to the document of No. 161 [2001], shall be audited by the financial departments or local taxation administrations in charge of the levying and administration of deed taxes of provinces, autonomous regions and municipalities directly under the Central Government, and cities directly under state planning. The taxes already paid but should not be levied according to this notice shall not be returned. |
||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||
|
Copyright 2002 NovexCn.com
|