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Commercial
Information Circulars
24-hour hotline : 23 922 922
e-mail address : enquiry@tid.gov.hk
Ref : EIC 631/2/7
23
June 2009
Dear Sirs,
Commercial
Information Circular No. 320/2009
The
Mainland of China : Notice Concerning Corporate Income Tax Policy for
Supplementary Insurance on Pensions and Medical Care
The Ministry of Finance
and the State Administration of Taxation have recently issued a notice
to clarify that expenses incurred by enterprises on supplementary insurance
on pensions and medical care for employees are allowed to be deducted
from the taxable income of the enterprises so long as they are not exceeding
the standard of 5% of the total wages. The portions exceeding the limit
are not allowed to be deducted. A copy of the notice is attached at Annex
(pdf format) for reference.
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For details of
the "Law on Corporate Income Tax of the People's Republic of China"
and its implementation regulations, please refer to CIC No. 132/2007
dated 21 March 2007 and CIC No. 499/2007 dated 13 December 2007.
ENQUIRIES
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If you have any
questions on the content of this circular, please contact Ms. Eugenia
CHAN at 2398 5444.
Yours faithfully,
(Miss Meea WONG)
for Director-General of Trade and Industry
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Electronic
services for Production Notification, Certificate of Origin, Textiles
Notifications, and Cargo Manifests enable traders to lodge/make
the relevant applications directly through their office computer
faster and easier. Tradelink Electronic Commerce Limited currently
runs services for the above documents,
and Global e-Trading Services Limited is providing electronic services
for Cargo Manifests. Please call the service providers for enquiries
on their services:
Global
e-Trading Services Limited (Tel. : 8109 1820)
Tradelink Electronic Commerce Limited (Tel. : 2599 1700)
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| Note :
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(1) In case of discrepancies
between the Chinese and the English texts of this circular,
the Chinese text shall for all purposes be conclusive.
(2) While every effort is made to ensure the accuracy of the
above information, the Department cannot guarantee this to be
so and will not be held liable for any reliance placed on the
same.
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