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1、The Law of the Peoples Republic of China on Enterprise Income TaxOrder of the President 2007 No.6316 March, 2007(Adopted at the 5th Session of the 10th National Peoples Congress on 16 March 2007, promulgated by Order No. 63 of the President of the Peoples Republic of China and effective as of 1 Janu
2、ary 2008) Table of ContentChapter One General Provisions Chapter Two Taxable Income Chapter Three Payable Tax Chapter Four Preferential Tax Treatment Chapter Five Tax Withheld at Source Chapter Six Special Tax Payment Adjustment Chapter Seven Administration of Tax Levying and Collection Chapter Eigh
3、t Supplementary ProvisionsChapter One General ProvisionsArticle 1 Taxpayers of enterprise income tax shall be enterprises and other organizations that obtain income within the Peoples Republic of China (hereinafter referred to as “Enterprises”) and shall pay enterprise income tax in accordance with
4、the provisions of this Law. This Law shall not apply to wholly individually-owned enterprises and partnership enterprises.Article 2 Enterprises are divided into resident enterprises and non-resident enterprises. For the purposes of this Law, the term “resident enterprises” shall refer to Enterprises
5、 that are set up in China in accordance with the law, or that are set up in accordance with the law of the foreign country (region) whose actual administration institution is in China.For the purposes of this Law, the term “non-resident enterprises” shall refer to Enterprises that are set up in acco
6、rdance with the law of the foreign country (region) whose actual administration institution is outside China, but they have set up institutions or establishments in China or they have income originating from China without setting up institutions or establishments in China.Article 3 Resident enterpri
7、ses shall pay enterprise income tax originating both within and outside China. Non-resident enterprises that have set up institutions or premises in China shall pay enterprise income tax in relation to the income originating from China obtained by their institutions or establishments, and the income
8、 incurred outside China but there is an actual relationship with the institutions or establishments set up by such enterprises. Where non-resident enterprises that have not set up institutions or establishments in China, or where institutions or establishments are set up but there is no actual relat
9、ionship with the income obtained by the institutions or establishments set up by such enterprises, they shall pay enterprise income tax in relation to the income originating from China.Article 4 The rate of enterprise income tax shall be 25%. Non-resident enterprises that have obtained income in acc
10、ordance with the provisions of Paragraph Three of Article 3 hereof, the applicable tax rate shall be 20%.Chapter Two Taxable IncomeArticle 5 The balance derived from the total income in each taxable year of Enterprises, after deduction of the non-taxable income, tax exempted income, other deductions
11、 and the making up of losses of previous years shall be the taxable income.Article 6 Income obtained by Enterprises from various sources in monetary and non- monetary terms shall be the total income, including 1.income from sale of goods; 2.income from provision of labour services; 3.income from tra
12、nsfer of property; 4.income from equity investment such as dividend and bonus; 5.interest income; 6.rental income; 7.income from royalties; 8.income from donations; and 9.other income.Article 7 The following income from the total income shall not be taxable 1.financial funding; 2.administrative fees
13、 and government funds obtained and included in financial management in accordance with the law; and 3.other non-taxable income prescribed by the State Council.Article 8 Reasonable expenses that are relevant to the income actually incurred and obtained by Enterprises, including costs, fees, tax payme
14、nts, losses and other fees may be deducted from the taxable income.Article 9 In relation to the expenses from charitable donations incurred by Enterprises, the portion within 12% of the total annual profit may be deducted from the taxable income.Article 10 The following expenses may not be deducted
15、from the taxable income 1.income from equity investment paid to investors such as dividend and bonus; 2.payment of enterprise income tax; 3.late payment fines; 4.penalties; fines and losses from confiscated property; 5.expenses from donations other than those prescribed in Article 9 hereof; 6.sponso
16、rship fees; 7.expenses for non-verified provisions; and 8.other expenses irrelevant to the income obtained.Article 11 Where Enterprises compute the taxable income, the depreciation of fixed assets calculated in accordance with provisions may be deducted. No depreciation may be deducted for the following fixed assets 1.fixed assets other than premises and buildings that have not yet been used; 2.fixed assets leased from other parties by means of busine
