Turnover tax for foreign investment enterprises

Tohmatsu, Deloitte Touche
February 1999
Accountancy;Feb1999, Vol. 123 Issue 1266, p64
Trade Publication
The article highlights the turnover tax transitional rule for foreign investment enterprises in China. The Ministry of Finance, Ministry of Foreign Trade and Economic Cooperation and the State Administration of Taxation have issued a joint circular reaffirming that the turnover tax transitional rule, scheduled to expire on December 31, 1998, will not be extended. The circular also explicitly states that the "exempt, credit and refund" Value Added Tax export refund method will not apply to old foreign investment enterprises until the year 2001. For foreign investment enterprises established after 1993, the exempt, credit and refund policy on domestic sales will continue to apply.


Related Articles

  • Bridging the divide. Bristow, Damon // Accountancy;Apr2001, Vol. 127 Issue 1292, p50 

    This article investigates on strategies to bridge the gap between the East Asian region that have access to the latest information and communications technology (ICT), and those that do not. Asia's interest in ICT has been prompted by the belief that the latest phase of globalization will have...

  • Japan.  // Accountancy;Oct86, Vol. 98 Issue 1118, p63 

    Presents an update on taxation news in Japan as of October 1986. Tax Commission proposals related to foreign tax credit limitation; Exemption of tax on interest on small deposits.

  • The show must go on. Rayney, Peter // Accountancy;Apr2002, Vol. 129 Issue 1304, p124 

    This article examines the post-Financial Act 2000 double tax relief (DTR) regime of Great Britain applying to overseas dividends. Foreign dividends from overseas subsidiaries and affiliates normally suffer overseas tax on the profits out of which they are paid, but will also be liable to the...

  • Germany.  // Accountancy;Dec1989, Vol. 104 Issue 1156, p61 

    The article reports on the abolition of the Foreign Investment Act in Germany. Although most of the Foreign Investment Act is to be abolished from January 1, 1990, section 2 will survive. This provides that losses of a permanent establishment abroad can be deducted from the principal's German...

  • 'Send a strong man to England - capacity to put up a fight more important than intimate knowledge of income tax acts and practice': Australia and the development of the dominion income tax relief system of 1920. Taylor, C. John // eJournal of Tax Research;Jun2014, Vol. 12 Issue 1, p32 

    The system of Dominion Income Tax Relief, which operated between the United Kingdom and Australia between 1st July 1921 and 30th June 1946, offered a solution to the problem of international juridical double taxation which differed in significant respects from the solution subsequently developed...

  • TAX INDUCEMENTS TO FOREIGN TRADE. CARROLL, MITCHELL B. // Law & Contemporary Problems;Summer/Autumn1946, Vol. 11 Issue 4, p760 

    The article discusses issues related to the credit for foreign taxes in the U.S. It is stated that with income attributable to a permanent establishment in one country, the principle of exempting foreign income was generally followed. It is mentioned that U.S. citizens need to be bona fide...

  • SOME AMERICAN DISCRIMINATIONS AGAINST FOREIGN ENTERPRISES. SINGER, MARCEL // Law & Contemporary Problems;Summer/Autumn1946, Vol. 11 Issue 4, p776 

    The article discusses the discrimination against foreign enterprises in the U.S. It is stated that except as used for apportioning general expenses, the foreign income is disregarded. It is mentioned that citizens and domestic corporations are benefited by the credit for foreign taxes allowed by...

  • Foreign Investment Climate.  // East Timor Review;2013, p91 

    The article presents an overview of the foreign investment climate in East Timor, located in Southeast Asia, on the southernmost edge of the Indonesian archipelago. The Portuguese colonized the island in mid-century. Imperial Japan occupied East Timor from 1942 to 1945, but East Timor declared...

  • China M&A rejig holds lawyers in suspense. Arora, Vanessa // Lawyer;9/25/2006, Vol. 20 Issue 37, p12 

    The article focuses on new regulations governing merger and acquisition deals that are to be implemented in China. Under the new law, foreign investors must seek permission from the Ministry of Commerce before they could merge or acquire a domestic enterprise. Also, share swap between the...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics