Help | Sitemap | Archive | Advanced Search | Mirror in USA   
  CHINA
  BUSINESS
  OPINION
  WORLD
  SCI-EDU
  SPORTS
  LIFE
  FEATURES
  PHOTO GALLERY

Message Board
Feedback
Voice of Readers
China Quiz
 China At a Glance
 Constitution of the PRC
 State Organs of the PRC
 CPC and State Leaders
 Chinese President Jiang Zemin
 White Papers of Chinese Government
 Selected Works of Deng Xiaoping
 English Websites in China
Help
About Us
SiteMap
Employment

U.S. Mirror
Japan Mirror
Tech-Net Mirror
Edu-Net Mirror


 
Wednesday, May 03, 2000, updated at 11:29(GMT+8)
Business  

China to Improve Tax Rules for Foreign-funded Firms

China plans to improve its foreign-related taxation system which will target at not only overseas-funded firms in China, but also Chinese enterprises starting business overseas.

An official with the State Administration of Taxation said that the taxes on domestic enterprises which invest overseas as well as the Chinese working outside the country should be restructured.

More than 5,000 Chinese companies so far have invested overseas, while over three million people are working abroad.

At present, taxes levied on foreign-funded enterprises and foreign employees in China are ensured by legislation which does not apply to Chinese companies overseas.

The amount of foreign-related taxes surpassed 160 billion yuan (19.3 billion U.S. dollars) last year, a rise of more than 40 billion yuan over the 1998 figure and accounting for 16 percent of China's total industrial and commercial tax revenue.








In This Section
 

China plans to improve its foreign-related taxation system which will target at not only overseas-funded firms in China, but also Chinese enterprises starting business overseas.

Advanced Search


 


 


Copyright by People's Daily Online, all right reserved