| Ministry of Finance, State Administration of Taxation Circular on Examination and Approval Procedure for Foreign Invested Enterprises about Software and IC Enterprises Income Tax |
| Monday,July 25,2005 Posted: 15:19 BJT(0719 GMT) CAITEC |
Financial Office (Bureau) in all the provinces, autonomous regions, municipalities, separately listed cities, and Xinjiang Production and Construction Corps, State Administration of Taxation and local Taxation Bureaus: In order to implement Law of Administrative Licensing of PRC, carry out the reform spirits of administrative examination and approval regime and raise revenue management efficiency, procedures in Item 6 of Article 1 and Item 2 of Article 2 of Ministry of Finance, State Administration of Taxation and General Administration of Customs Circular on Taxation Policy for Encouraging Software and IC Industries’ Development are notifies as follows: Regulations in Item 6 of Article 1 and Item 2 of Article 2, namely enterprises with a investment higher than $ 30 million shall be submitted to State Administration of Taxation for authorization, while enterprises with an investment less than $ 30 million shall be authorized by responsible taxation departments, shall be ceased from implementation. Local responsible taxation departments could ask the enterprise to provide factual evidence or information (including field survey) that applies to regulations in Item 6 of Article 1 and Item 2 of Article 2 for annual income tax audit. If, with the audit confirmation, the enterprises shall not be in line with regulations in Item 6 of Article 1 and Item 2 of Article 2, local responsible taxation departments could conduct in accordance with Law of PRC on the Administration of Revenue Imposition. Ministry of Finance State Administration of Taxation July 1, 2005 (All information published in this website is authentic in Chinese. English is provided for reference only. ) |
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