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In order to carry into effect the Law of the People's Republic of China on Promoting Small/medium-sized Enterprises, the Circular of the General Office of the State Council on Forwarding the Opinions of the State Economic and Trade Commission on Encouraging and Promoting the Development of Small/medium-sized Enterprises (No. 59 [2000] of the General Office of the State Council) and the Circular of the National Development and Reform Commission and the State Administration of Taxation on Doing a Better Job in the Exemption of Business Taxes from Credit Guaranty Institutions for Small/Medium-sized Enterprises (No. 303 [2004] of the National Development and Reform Commission) as well as the relevant instructions and spirits of the principals of the State Council on promoting the development of credit guaranty institutions for small/medium-sized enterprises, we hereby notify the relevant issues as follows on doing a better job in the exemption of business taxes for credit guaranty institutions for small/medium-sized enterprises: I. BASIC REQUIREMENTS FOR TAX EXEMPTION FOR A CREDIT GUARANTY INSTITUTION (1) Upon the approval of the authorization department of the government (administrative department of the government in charge of small/medium-sized enterprises), having been registered as an enterprise legal person according to law and being an institution that mainly provides guaranty services for small/medium-sized enterprises; (2) Not aiming at making profits as its major purpose and the charging rates for guaranty services being subject to the approval of the administrative department of the local people's government in charge of small/medium-sized enterprises as well as to the price department of the people's government at the same level; (3) Having a sound internal management system, the capacity to provide guaranty for small/medium-sized enterprises, outstanding business achievements, an improved mechanism of beforehand appraisal, ongoing supervision and follow-up recourse and disposal as well as a registered capital of 20 million yuan; (4) The accumulative guaranteed amount for the loans of small/medium-sized enterprises being 80% of its accumulative guaranteed amount in total, the guaranteed balance as provided for a single enterprise being no more than 10% of its total paid-in capital, wherein the guaranteed amount in a single deal shall be no more than 40 million yuan at the maximum; (5) The amplified proportion between the guarantee fund and the loan under guaranty shall be no less than 3 times and the compensatory repayment shall be no more than 5% of the guarantee fund; (6) Being subject to the supervision and administration of the administrative department of the local government in charge of small/medium-sized enterprises and reporting, according to the relevant requirements, its guaranty undertaking and financial statements to the said department. A credit guaranty institution, whose term for enjoying the preferential policy of exempting business taxes has expired, may, when still meeting the aforesaid requirements, apply for another term for enjoying the said preferential policy. II. PROCEDURES FOR TAXES EXEMPTION Where credit guaranty institutions voluntarily apply for tax exemption, after the provincial administrative department of small/medium-sized enterprises and the provincial taxation authorities carry out examination and make recommendation, the State Development and Reform Commission and the State Administration of Taxation shall carry out examination and approval and distribute a name list of the institutions that may enjoy tax exemption. The guaranty institutions on the name list shall, upon the strength of the relevant documents, go to the administrative tax authority to handle the relevant formalities for tax exemption. After the local tax authority carries out examination and approval and handle the formalities for tax exemption according to the name list as distributed by the State Development and Reform Commission and the State Administration of Taxation, the relevant guaranty institutions may enjoy the policies for business tax exemption. III. TERM FOR TAX EXEMPTION The term for business tax exemption is 3 years, which shall be calculated as of the day when the tax authority in charge of guaranty institutions handles the formalities for tax exemption. IV. REGIONAL EXAMINATION AND RECOMMENDATION OF CREDIT GUARANTY INSTITUTIONS FOR SMALL/MEDIUM-SIZED ENTERPRISES The administrative departments of small/medium-sized enterprises and local tax bureaus of all provinces, autonomous regions, municipalities directly under the Central Government and the cities under separate state planning shall, according to the requirements of the present Circular and the principles of openness and impartiality, do a good job in their examination and recommendation of credit guaranty institutions for small/medium-sized enterprises. V. REGIONAL ADMINISTRATION The administrative departments of small/medium-sized enterprises and local tax bureaus of all provinces, autonomous regions, municipalities directly under the Central Government and the cities under separate state planning shall, according to the real situation, scrutinize the implementation and effectiveness of business tax exemption for credit guaranty institutions in the preliminary phase and adopt a dynamic administration on the credit guaranty institutions for small/medium-sized enterprises that enjoy the policy for business tax exemption. As to any credit guaranty institution that violates the relevant provisions and thus fails to meet the requirements for tax deduction and exemption any more, it shall, upon discovery, be reported faithfully to the State Development and Reform Commission and the State Administration of Taxation so as to revoke its qualification for further enjoying tax exemption. VI. REGIONAL REPORT The administrative departments of small/medium-sized enterprises of all provinces, autonomous regions, municipalities directly under the Central Government and the cities under separate state planning shall, in collaboration with local taxation bureaus, do well in the relevant work and report the following materials in duplicate and written form to the Small/medium-sized Enterprise Department of the State Development and Reform Commission and the Department of Circulation Tax Administration of the State Administration of Taxation before June 15, 2006. (1) The achievements of, existing problems in and suggestion on the work relating to business tax exemption for credit guaranty institutions for small/medium-sized enterprises in the preliminary four batches; (2) A Name List of the credit guaranty institutions for small/medium-sized enterprises that meet the requirements for tax exemption (publicized); (3) Registration Forms (See attachment) as well as the photocopies of business licenses and constitutions of the credit guaranty institutions for small/medium-sized enterprises that meet the requirements for tax exemption; (4) A Name List of the credit guaranty institutions for small/medium-sized enterprises that fail to meet the requirements for tax exemption in the preliminary four batches upon examination as well as the corresponding explanations. Contact entity: Department of Small/Medium-sized Enterprise of the National Development and Reform Commission Contact person: Zhang Haiying Contact Telephone Number: 68535638 Attachment: Registration Form of the Credit Guaranty Institutions for Small/medium-sized Enterprises REGISTRATION FORM OF THE CREDIT GUARANTY INSTITUTIONS FOR SMALL/MEDIUM-SIZED ENTERPRISES Date of Filling in the Form: Name of a guaranty institution (full name): Address: Nature of legal person: Examination opinions produced by the local administrative department of small/medium-sized enterprises: Legal representative (person-in-charge): Person-in-charge (seal) Contact person: Address: Telephone: Fax: Time of establishment: Registered capital (in 10,000 yuan): Guarantee fund (in 10,000 yuan), Total: Guarantee fund (Monetary capital): Number of practitioners: Range of guarantee premiums(%): Number of guaranteed enterprises, Accumulated: Number of small/medium-sized enterprises: Number of currently guaranteed enterprises: Examination opinions as produced by the local administrative department of Small/medium-sized enterprises: Loan under guaranty (in 10,000 yuan), Accumulated: Loan currently guaranteed: Person-in-charge (seal): Reserve funds for risk and compensatory repayment (in 10,000 yuan): Accumulated withdrawal of reserve funds in total: Accumulated compensatory repayment: Accumulated losses incurred from compensation: Business income (in 10,000 yuan), Accumulated: Income generated from guaranty premiums: Total Profits (in 10,000 yuan): Accumulated tax (in 10,000 yuan): Business taxes: Income taxes: Seal of the Applicant Entity: Signature of the Person-in-charge: |
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