Commercial Information Circulars
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e-mail address : enquiry@tid.gov.hk
Ref : EIC 631/2/7
9 October 2008
Dear Sirs,
Commercial Information Circular No. 501/2008
The Mainland of China : Notice Concerning Levy of Corporate Income Tax on Non-resident Enterprises
The Ministry of Finance and the State Administration of Taxation have recently issued a notice concerning the levy of corporate income tax on non-resident enterprises, which took retrospective effect on 1 January 2008. The notice clarified that tax expenditure other than those stated in Article 19 of the "Law on Corporate Income Tax of the People's Republic of China" and Article 103 of the "Regulations on the Implementation of Law on Corporate Income Tax" should not be deducted from the calculation of corporate income tax for non-resident enterprises on incomes mentioned in paragraph 3 of Article 3 of the "Law on Corporate Income Tax of the People's Republic of China". A copy of the relevant notice is attached at Annex (pdf format) for reference.
- 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
- 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. |