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	NOTICE OF THE MINISTRY OF FINANCE, THE STATE ADMINISTRATION OF TAXATION REGARDING 3% LOCAL INCOME TAX PAID BY FOREIGN-INVESTED ENTERPRISES AND FOREIGN ENTERPRISES

	(Caiyu No. 66 [2002] Ministry of Finance, the State Administration of Taxation promulgated on February 28, 2002)


SUBJECT : 3% LOCAL INCOME TAX
ISSUING DEPARTMENT : MINISTRY OF FINANCE OF THE PEOPLE'S REPUBLIC OF CHINA, STATE ADMINISTRATION OF TAXATION
ISSUE DATE : 02/28/2002
IMPLEMENT DATE : 02/28/2002
LENGTH : 247 words
TEXT :

After the reform in the sharing of revenue from income tax in accordance with the Notice of the State Council on the Reform in the Sharing of Revenue from Income Tax (Guofa No.[2001]37), revenue from income tax paid by all enterprises and individuals except a small number of enterprises in special industries should be shared proportionally between the central and local governments. Therefore, except that the 3% local income tax paid by marine petroleum and natural gas enterprises which should be considered fully owned by the central government, revenue from the 3% local income tax paid by foreign-invested enterprises and foreign enterprises should be shared by the central government and the local governments. The relevant provisions in the Law on Income Tax of Foreign-invested Enterprises and Foreign Enterprises concerning the 3% local income tax and the power of approval for its exemption or reduction refer only to the division of power of tax administration and do not affect the issue concerning the sharing of the budged revenue from income tax.

The relevant departments at all localities are required to collect to the State Treasury and the Local treasuries according to proportion the 3% local income tax paid by foreign-invested enterprises and foreign enterprises in accordance with the Notice Guofa No.[2001]37 and the Notice of the Ministry of Finance, the State Administration of Taxation and the People's Bank of China on the Budget Control after the Reform in the Sharing of Revenue from Income Tax (Caiyumingdian No. [2001]3).