Commercial Information Circulars
24-hour hotline : 23 922 922
e-mail address : enquiry@tid.gov.hk
Ref : EIC 631/2/7
11 September 2008
Dear Sirs,
Commercial Information Circular No. 460/2008
The
Mainland of China : Notice Concerning the "Catalogue on Comprehensive
Utilization of Resources Eligible for Concessions of Corporate
Income Tax (2008)"
The Ministry of Finance, the State Administration of Taxation and the National Development and Reform Commission have jointly issued the "Catalogue on Comprehensive Utilization of Resources Eligible for Concessions of Corporate Income Tax (2008)", which would take retrospective effect on 1 January 2008 and supersede the "Catalogue on Comprehensive Utilization of Resources (2003 Revised)" announced on 12 January 2004. A copy of the relevant notice is attached at Appendix (pdf format) for reference.
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According to the "Law on Corporate Income Tax of the People's Republic of China" and its implementation regulations, enterprises may have their income obtained by producing non-State restricted and prohibited products that meet the related State and industrial standards with resources stipulated in the above Catalogue as major raw materials calculated into the total income at a rate of 90% of the value. For details, 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
| Note : | 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. |