--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
SPORTS
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Film in China
War on Poverty
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service
China Calendar
Trade & Foreign Investment

Hot Links
China Development Gateway
Chinese Embassies

Foreign Investors Seek Grace Period in Tax Benefit Cut

The government's plan to end tax benefits to foreign-invested firms and bring all companies under a single tax regime has attracted the attention of foreign-funded companies.

 

The China Business Times reported on Thursday that 54 firms, including ABB, BP, Siemens, Microsoft, Ericsson, Sony and Dell, will submit a report to the State Council Legislative Affairs Office, asking for a grace period of five to ten years before withdrawal of tax benefits.

 

Most of the companies, including Bayer, Sony, Siemens and BASF, said they were unable to confirm the report. However, a spokesperson from one of the 54, who declined to be named, admitted that such a request was in the process of being made.

 

The nominal income tax rate for domestic companies is 33 percent, while that for foreign-funded companies is 15 percent. Reports suggest that new tax rates may be set.

 

Domestic firms have had to bear too heavy a burden under the current regime, according to Ni Hongri, a senior researcher with the State Council Development Research Center.

 

"It means such firms are at a disadvantage when competing internationally," she said. "The government should unify the policies as soon as possible."

 

Director Xie Xuren of the State Administration of Taxation said at a press conference this week that the government will conduct an in-depth study on the tax system, but declined to give a timetable for unification.

 

Chinese economists and researchers have long called for integration of the two policies, saying the current system is unfair to domestic companies.

 

However, the Ministry of Finance, the State Administration of Taxation and the Ministry of Commerce reportedly hold differing views on the proposal.

 

Insiders say that the Ministry of Commerce is concerned that the reform will damage foreign investment and also the nation's exports.

 

During the first 11 months of last year, the government approved 39,291 foreign-funded companies, involving actual foreign investment of US$57.6 billion and making the country one of the premier destinations worldwide for foreign investment.

 

Meanwhile, foreign-funded companies account for 55 percent of the country's exports.

 

However, the Ministry of Finance stance is that in the spirit of China's WTO membership, the policies should be unified.

 

(China Daily January 14, 2005)

Tax Revenue Hits 2.6 Trillion Yuan
Government Urged to Reform Decade-old Tax System
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688
主站蜘蛛池模板: 欧美乱子欧美猛男做受视频伦xxxx96 | 欧美激情视频网| 手机看片福利日韩国产| 又大又粗好舒服好爽视频| fc2免费人成为视频| 最近最新2019中文字幕4| 国产亚洲精品美女久久久久| 中文天堂在线观看| 狠狠色噜噜狠狠狠狠7777米奇| 国产精品露脸国语对白| 亚洲av中文无码乱人伦在线视色| 蜜芽.768.忘忧草二区老狼| 强开小婷嫩苞又嫩又紧韩国视频| 亚洲人成精品久久久久| 蝌蚪网站免费观看| 国产香蕉一区二区精品视频| 久久香蕉国产线看精品| 老子影院我不卡在线理论| 国产色xx群视频射精| 中文字幕制服丝袜| 永久黄网站色视频免费直播| 国产成人涩涩涩视频在线观看免费 | 国产无套粉嫩白浆在线| 丰满肥臀风间由美系列| 福利电影一区二区| 国产精品漂亮美女在线观看| 久久精品无码一区二区www| 精品无码国产自产拍在线观看蜜| 在线中文字幕播放| 久久99国产亚洲精品观看| 玩弄丰满少妇视频| 国产男女猛烈无遮挡免费视频| 中文字幕欧美视频| 波多野吉衣视频| 国产在线视频www片| 99re在线视频精品| 日本高清二区视频久二区| 免费大片av手机看片| 亚洲精品视频在线观看你懂的| 无人在线观看视频高清视频8| 人人爽人人爽人人爽人人片av|