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OFFICIAL REPLY OF THE STATE TAXATION ADMINISTRATION ABOUT TAX YEAR OF FOREIGN-FUNDED ENTERPRISES |
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(Letter No. 361 [2002] of the State Taxation Administration promulgated on April 25, 2002)
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SUBJECT : TAX YEAR; FOREIGN-FUNDED ENTERPRISES |
ISSUING DEPARTMENT : STATE ADMINISTRATION OF TAXATION |
ISSUE DATE : 04/25/2002 |
IMPLEMENT DATE : 04/25/2002 |
LENGTH : 169 words |
TEXT : |
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The Request for Instruction on Whether Foreign-Funded Enterprises Can Apply to Change the Tax Year (No. 15 [2002] of Shanghai Municipal State Taxation Bureau) has been received. We hereby give our reply as follows after deliberation:
I. In accordance with Article 8 of the Detailed Rules for the Implementation of the Income Tax Law of the People's Republic of China for Foreign-Funded Enterprises and Foreign Enterprises, the tax year for foreign-funded enterprises shall begin on 1 January and end on 31 December of the Gregorian Calendar.
II. Article 16 of the Notice of the State Taxation Administration on Some Business Disposal Issues concerning the Implementation of the Income Tax Law for Foreign-Funded Enterprises and Foreign Enterprises (No. 165 [1991] of the State Taxation Administration) shall be ceased from execution from 2002; where, prior to 2002, any foreign-funded enterprise was approved by the taxation authority to take the accounting year of 12 months as the tax year, it may continue to execute until the expiry of the tax year approved.
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