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2007
In this booklet, we cover the following topics:
- Tax administration
- Foreign enterprise income tax for foreign investment enterprises and foreign enterprises
- Corporate Income Tax Law
- Individuals tax
- Other taxes
- Capital gains tax
- Tax treaties/arrangements
- Foreign tax relief
- Exchange controls
This booklet has been prepared to provide the reader with an overview of taxes levied in the People's Republic of China. It is not intended to cover exhaustively the subjects it addresses but rather to answer some of the important, broad questions that may arise for the reader. When specific issues arise in practice, it will be necessary to refer to the laws, regulations and interpretations of the PRC. Since the laws and regulations are still evolving and are not always uniformly interpreted, it is advisable to obtain appropriate professional advice.
The commentary in this booklet does not cover taxes levied in Hong Kong and Macao, which became Special Administrative Regions of the PRC on 1 July 1997 and 20 December 1999 respectively. Hong Kong and Macao continue to retain their own tax systems and the taxes applicable in Mainland China do not apply in Hong Kong and Macao.
The new Corporate Income Tax Law was released in March this year. However, the implementation details have not been finalised and released. An updated version of this booklet will be available shortly after the implementation details are published. |
