国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

BIZCHINA> Taxation
Unifed tax rate to apply to domestic, foreign-funded enterprises
(AFP)
Updated: 2007-03-02 17:49

BEIJING- When the National People's Congress kicks off its annual series of meetings on Monday, one law expected to be passed will unify corporate income tax rates at 25 percent, ending special privileges for foreigners.

Unifed tax rate to apply to domestic, foreign-funded enterprises
Two foreigners use aBank of Chinaautomated teller machine (ATM) in Beijing in this file photo.[AFP]
Unifed tax rate to apply to domestic, foreign-funded enterprises
"The current tax regimes are too complicated," Finance Minister Jin Renqing said recently.

"A unified tax code will create a taxation environment that favours fair competition among all ventures registered in China."

Or that is the theory at least. Foreigners are cautiously waiting to see what the reality will be.

"The question is whether there will be all sorts of dispensations and cozy arrangements for Chinese enterprises," said a Western executive who asked not to be identified.

The new 25 percent tax rate means foreign enterprises which so far have been subject to a 15 percent income tax will have to pay a combined 5.1 billion dollars extra every year, according to official calculations.

Chinese companies, meanwhile, will pay 16.8 billion dollars less, since up until now they have been taxed at 33 percent.

No wonder, then, that Chinese executives such as Lu Honghua, general manager of Changchun Huaxin Food, a candy maker in northeast China, sees the measure as justice finally reigning supreme.

"For us domestic enterprises, the unification of the rates signals that all the enterprises have returned to the same starting point and that all market players are put on an equal footing," Lu told state media.

One oft-cited reason for the unified tax rate is China's entry five years ago into theWorld Trade Organisation, which says foreigners and locals must be treated equally.

Just as important, however, are changes in the requirements of the Chinese economy now compared with when the dual tax regime was devised.

"When the differential tax treatment was introduced, it reflected a need for a policy of reform and of opening," said Wang Li, a senior finance ministry official.

"We needed to attract the foreign capital, to accelerate the development of the economy."


(For more biz stories, please visit Industries)

   Previous page 1 2 Next Page  

沈丘县| 天门市| 大城县| 西乌| 西充县| 勃利县| 镇巴县| 天台县| 马关县| 盖州市| 潼南县| 元江| 成武县| 隆林| 安徽省| 屏山县| 山西省| 高要市| 麟游县| 牙克石市| 兰考县| 香格里拉县| 丹阳市| 灌阳县| 海晏县| 博客| 建平县| 当涂县| 夏津县| 大冶市| 百色市| 井研县| 砚山县| 丁青县| 西和县| 班玛县| 达日县| 巴楚县| 中卫市| 秦安县| 治多县|