Download Corporate Income Tax Law and Practice in the People's by Fuli Cao PDF

By Fuli Cao

Company source of revenue Tax legislation and perform within the People's Republic of China presents a accomplished research of China's company source of revenue tax legislations. a brand new company source of revenue tax legislation got here into influence on January 1, 2008. the hot legislation unified the 2 company source of revenue tax platforms that have been acceptable to household organizations, international corporations and overseas invested businesses, respectively. a wide section of this publication summarizes the hot tax legislations, the implementation ideas of the legislation, and the translation circulars issued by way of the chinese language tax gurus. The mapping of sections of tax legislations, laws, and circulars into the appropriate parts of commercial transactions and operations is beneficial to attorneys, accountants, and different pros. distinct citations enable readers to discover the specialists at their unique resources. additionally integrated is a few introductory and historic details in the event you search a common wisdom of China tax legislation. One bankruptcy is dedicated to addressing significant components of tax treaties and agreements among China and different nations or areas. Tables summarizing the treaties on the subject of everlasting institution, dividends, curiosity, royalties, and capital earnings offer readers with a short reference and an effective capability for comparative research. the problems of management and enforcement of particular tax principles are mentioned in numerous chapters. Separate chapters disguise tax compliance and tax audit and appeals.In addition, the publication reviews on a variety of tax ideas and provides a view of attainable tax remedies in parts that experience now not been addressed or basically addressed via the legislations, laws and different gurus.

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Example text

The risk of Chinese resident enterprise can be mitigated by ensuring that the offshore holding companies do not meet all or most of the effective management factors listed in Guo Shui Fa [2009] No. 82. 2 Non-Resident Enterprise Non-resident enterprises can be taxed in China in two ways. One is to carry on a trade or business in China; another is to derive China source income that is not connected with an establishment in China. 1 foreign company carrying on trade or business in china A non-resident enterprise is liable for Chinese income tax on its income derived from China.

21 In order to qualify for tax-exempted entity, a nonprofit organization must satisfy all of the following conditions 22: (1) It has completed the registration procedures required for nonprofit organization in accordance with the laws. It can be a publicly funded institute, a social group, a foundation, a private nonprofit entity, a place of religious activities, or any other organization determined by the MOF and the SAT; (2) It is engaged in public welfare or nonprofit operations and its main activities are within the territory of China; (3) Income derived by the organization is entirely used for the public welfare or nonprofit undertakings that are prescribed upon registration or in the Articles of Association, except for related and reasonable expenses of the organization; (4) Its properties and the income or gains derived as a result of the holding of such properties are not used for distributions.

26 The Notice on the Issues Concerning the Revenue of Non-profit Organizations that is Exempted from Corporate Income Tax, Cai Shui [2009] No. 122, issued by the MOF and the SAT on November 11, 2009 and effective on January 1, 2008. 2 enterprises organized under foreign laws An enterprise is considered to be a resident enterprise if it has its place of effective management in China,27 although not established under Chinese law. A “place of effective management” refers to an establishment that exercises substantive and overall management and control over the production and business operations, personnel, financial functions, properties, etc.

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