Finance and Taxation Chapter VII Income Tax of Foreign Investme nt Enterprises and Foreign Enterprises Income tax of foreign-invested enterprises a nd foreign enterprises is a kind of tax levied o n their income from production, operation an d other income by foreign-invested enterprise s and foreign enterprises originating in China. Chapter VII Income Tax of Foreign Investme nt Enterprises and Foreign Enterprises • Legal basis: • Income Tax Law of Foreign-invested Enterprises and Foreign Enter prises of China, adopted at the 4th Session of the Seventh National People's Congress in April 1991 • Rules for the Implementation of the Income Tax Law of the People's Republic of China on Foreign Investment Enterprises and Foreign Enterprises promulgated by the State Council in June 1991 Chapter VII Income Tax of Foreign Investme nt Enterprises and Foreign Enterprises • The origin of foreign-related enterprise income tax: • Income Tax Law on Sino-foreign J oint Ventures, 1980 • Foreign Enterprise Income Tax Law 1981 • In 1991, the above two laws were amended and perfected, and the I ncome Tax Law on Foreign-invested Enterprises and Foreign Enterp rises was promulgated, which was implemented on July 1. Chapter VII Income Tax of Foreign Investme nt Enterprises and Foreign Enterprises • The characteristics of foreign-related enterprise income tax: • In conformity with international practice • Both preferential treatment and punishment Chapter VII Income Tax of Foreign Investme nt Enterprises and Foreign Enterprises I. Basic Elements of Foreign-related Enterprise Income Tax Tax preferences for foreign-related enterprises III. Calculation of Income Tax of Foreign-relate d Enterprises IV. Administration of Income Tax Collection of F oreign-related Enterprises I. Basic Elements of Foreign-related E nterprise Income Tax A Taxpayer of Foreign Enterprise Income Tax II. Tax Objects of Foreign-related Enterprise Income Tax Tax Rate of Income Tax of Foreign-related Enterprises I. Basic Elements of Foreign-related Enterpr ise Income Tax A Taxpayer of Foreign Enterprise Income T ax • Foreign-invested enterprises include: • Sino-foreign joint ventures • Sino-foreign cooperative enterprises • Foreign enterprise I. Basic Elements of Foreign-related Enterp rise Income Tax A Taxpayer of Foreign Enterprise Income Tax • There are two situations for foreign enterprise s: • One is the establishment of sites, institutions, foreign companies, en terprises and other economic organizations engaged in production a nd operation in China, that is, foreign economic organizations with p ermanent institutions in China as mentioned in international taxatio n. • The other is foreign companies, enterprises and other economic orga nizations that do not have institutions or places in China, but have di vidends, interest, rents and royalties derived from China. I. Basic Elements of Foreign-related Enterp rise Income Tax II. Tax Objects of Foreign-related Enterprise Income Tax • Generally speaking, the object of Taxation of income tax o f foreign-invested enterprises and foreign enterprises refe rs to the income of foreign-invested enterprises from both domestic and overseas sources, as well as the income of f oreign enterprises from domestic sources. • For Sino-foreign cooperative enterprises which do not form a legal entity, tax is levied only on their income originating in China. • Foreign enterprises are non-resident enterprises in our country, an d they only levy taxes on income from their own territory. • Foreign-funded enterprises shall determine whether they are resident enterprises according to the principle of the l ocation of their headquarters. I. Basic Elements of Foreign-rela ted Enterprise Income Tax • The specific scope of Taxation of foreign-related enterpris e income tax in China is as follows: • Foreign-funded enterprises derive from production, operation and other income both inside and outside China, as well as profits (divi dends), interest, rent, royalties and other income actually associat ed with foreign-funded enterprises both inside and outside China. • Income from the establishment of institutions and places within th e territory of China by foreign enterprises and their production an d operation, as well as interest, rent, royalties and other income ac tually associated with the institutions and places established outsi de China and by foreign enterprises within the territory of China • Profits, interest,

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