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MOF: Preferential Tax Policy for Listed Co. to Be Reserved in a Short-Term
To promote the reform of state-owned enterprises (SOEs), keep the stability of the stock market and protect the interests of investors, the preferential tax policy for listed companies currently adopted nationwide will be retained in a short-term, according to an official with the Ministry of Finance (MOF).
He made the remarks in reply to the questions concerning the preferential income policy of listed companies, which has been concerned with by all circles.
He said approved by the state-council, the preferential income tax policy for listed companies adopted nationwide which stipulates that the income tax of listed companies will be collected first according to a legal tax rate of 33% and then 18% will be rebated will be retained until December 31, 2001, and from January 1, 2002 on, the income tax of enterprises will uniformly collected according to legal tax, unless otherwise stipulated by laws and administrative regulations.
Speaking of why the preferential tax policy will be retained in a certain period, he said this year is a year key to the reform of SOEs, it will be beneficial for SOEs to transform mechanism and get rid of difficult situation to properly keep and continue the preferential policies for them. In addition, the move is also help to keep the stability of stock market, expand financing and provide capital guarantee for social security and other follow-up reforms. (Panorama)
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