免费日韩片_欧美成人精品一区二区男人小说_国产乱码一区二区三区四区_国产精品国产三级国产aⅴ入口_成人看的污污超级黄网站免费_欧美一级在线免费观看_成人午夜免费无码福利片_国产乱人伦偷精品视频色欲_aaa少妇高潮大片免费看_国产精品1234_亚洲精品国产suv一区88_中文字字幕在线中文无码_精品亚洲区_午夜九九九_国产av国片精品jk制服丝袜_色综合亚洲_亚洲成av人片无码bt种子下载_欧美色就色_精品少妇的一区二区三区四区_男人用嘴添女人下身免费视频

National

Regional

Taiwan, HK, Macao

Special Coverage

Focus

Society

Profiles

Draft corporate tax law to be tabled soon

(Xinhua)
Updated: 2006-10-18 10:12

A draft Corporate Tax Law that will unify taxes for domestic and foreign-invested enterprises will be tabled in China's legislature for first reading this month, an insider told Xinhua on Tuesday.

"The major obstacles in the legislative process have been cleared, only a few technical problems remain to be solved," he said.

The State Council, China's Cabinet, approved the draft law in principle at the end of September after hearing the Ministries of Finance and Commerce present their research on the viability of unified enterprise taxes.

"An agreement has been reached among local authorities and governmental departments. The legislative process will not be reversed," the insider said, adding that technical revision of the draft law was still possible.

Chinese authorities intended to submit the draft to the Standing Committee of the National People's Congress for a first reading in August. However, objections from foreign investors and concern about a dramatic decline in foreign investment inflows led to a delay.

Sources close to the drafting said that unified tax rates will fall into a 24-27 percent range, which is lower than the maximum rate of 33 percent paid by domestic firms and higher than the 15 percent paid by foreign-invested companies.

Foreign-invested companies may enjoy a 3-5 year transition period. But taxation privileges will no longer be used to attract foreign investment. Instead, tax policy will be used to upgrade China's industry, and especially to encourage the development of sectors such as high-tech, infrastructure facilities and environmental protection.

When the new law is implemented, all enterprises, large or small, local or foreign-invested, will receive the same fiscal treatment, according to Ministry of Finance Tax Policy Department director Shi Yaobin.