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| Author: | Lin, Nan |
| Title: | Effects of tax reform on joint venture, cooperative and foreign investment enterprises (original in Chinese) |
| Journal: | Shanghai Economy (c)
1994 : 1, p.29 |
| Index terms: | TAX POLICY TAXATION COMPANY TAXATION JOINT BUSINESS VENTURES CHINA |
| Language: | chi |
| Abstract: | Under the new tax system, the state makes a single tax rate (33%) both domestic and foreign funded enterprises. the state also changed the industrial and commercial consolidated tax into value-added tax (17%). Because foreign funded enterprises have enjoyed a preferential policy according to which they have not been levied income tax in the first two years, and levied half of the income tax in the following three years, they will not pay more income tax than before. But from the sixth year, they have to pay income tax at the rate of 33%, the total tax payment will increase. Although the new tax system will weaken the preferential treatment of tax payment of the foreign funded enterprise in short term, from a long term point of view, its attraction to the foreign investment will keep increasing. |
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