久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

 
  |Home|News|Reports|Photo|Video|Agenda|Backgrounder|Forum|  
  2007 NPC

Tax law not to dampen investment enthusiasm

By Dong Zhixin (chinadaily.com.cn)
Updated: 2007-03-09 11:09


Finance Minister Jin Renqing speaks at a press conference in Beijiing March 9, 2007. He said the unified corporate income tax rate for domestic and foreign-funded enterprises would not dampen foreign investors' enthusiasm in their China investment. [Xinhua]
The draft corporate income tax law is unlikely to cause a big financial burden to overseas-funded firms, or dampen their investment enthusiasm, said Finance Minister Jin Renqing Friday.

The draft bill, which has been submitted to the National People's Congress, China's parliament, planned to unify the rate on domestic and overseas-funded companies at 25 per cent. Under the current laws, the domestic firms are subject to a 33 per cent rate while their overseas counterparts pay 25 per cent.

However, the draft offered a special treatment of 15 per cent rate for high-tech companies, said Jin on the sidelines of annual session of the parliament.

The minister revealed that the draft gave special consideration to Taiwan, Hong Kong and Macao funded companies.

"Given that most of, roughly 60 per cent, the Taiwan, Hong Kong and Macao funded companies are relatively small in scale, the draft specifically set a rate of 20 per cent for small and low-profit enterprises," said Jin.

"As a result, a very limited number of enterprises will experience a hike to 25 per cent from 15 per cent," said the minister.

Moreover, a preferential grace period was incorporated in the draft, according to Jin. For small companies, the increase to 20 per cent from 15 per cent can be phased in during a course of five years, meaning a rise of just one per cent per year, he elaborated.

The overseas firms are expected to pay 43 billion more in tax in an increase to 25 per cent from 15 per cent, Jin estimated. However, considering the granting of the five-year grace period, the burden will increase just 8 billion per year, said he.

Therefore, he concluded that this, out of their rich profit, would not cause great influences on them or dampen their interest in investing in China.

If passed, the law will be effective from January 1 next year, giving the overseas firms a transition period, noted Jin.

The draft bill also encouraged energy saving and environmental protection by granting favorable tax treatment to firms taking such initiatives, noted Jin. "Necessary deductions can be made from their taxable income."

On the hotly debated oil tax, he promised that related preparations will be sped up, but on the timing of its coming out, "the key is whether the conditions are ripe."

The collection of oil tax is sure to be conducive to energy conservation and environment protection, said Jin. However, it is mainly intended to streamline the collection of fees related to the use of roads, including the road maintenance fees, according to the minister.

Jin reaffirmed that China is in the process of establishing an investment corporation to manage the country's ballooning foreign exchange reserve which has topped one trillion US dollars.

The corporation will be under the supervision of the State Council, the cabinet, instead of under the Minister of Finance, revealed the minister.

While the normal forex reserve will continue to be managed by the State Administration of Foreign Exchange, the rest will be used to make certain investments to get better gains, said Jin.

Experts estimated that US$700 billion is enough to provide a cusion for the country's foreign trade needs.



Question Session

The Supreme People's Court will send back cases to provincial courts for retrial if it evaluates that a death sentence has been passed without proper .

From our readers

 helpthe PM: Perhaps if all the rough Japanese soldiers were as good looking as Abe and wore their suits and ties with gentlemanly manners, the sex slaves might not have to be forced onto the plankbed to do their work.

 MT: In the constitution of the PRC, the rights and indeed privileges of the 55 minorities who constitute less than 55 of the population are clearly and painstakingly spelled out.

 wellsaidsecretary: When China was the super power during Marco Polo's time, China had not expanded with military might. China used her invention gunpowder to celebrate instead of conquering and killing.

 oneandone: No one in the whole wide world recognize Taiwan as an independent nation.

 WHY: western countries and their media have always attacked China's consumption of energy, and also regard China as a new colonial in Africa, why?

Hot Forum Topics

 When Taiwan unites, Should Chen Shui Bian be tried in Chinese court for treason?
 9 involved in Shanghai fund scandal get sacked
 Why China cannot be over-populated?
 Beijing demands US cancel planned missile sale to Taiwan
 Washington Post: China plans rise in military spending
 Chinese Premier Wen Jia-bao's article

Photos
A new law to unify income taxes for both Chinese and foreign enterprises has been in the pipeline for a while. It is high time to get it passed to create an equal taxation footing for all businesses in the country.
In the Limelight

Property law:
Property law gets fine-tuned in latest round

 

Corporate tax:
New corporate tax offers level playing field

 

Financial reform:
Looser currency controls on cards

 
· The spring of two sessions and road of reform
· New corporate tax offers level playing field
Slideshow

Supportive forces for NPC/CPPCC:

 
· Migrant workers
· Get ready for the NPC, CPPCC sessions
Video
· Foreign minister meets the press (20)
· Foreign minister meets the press (19)
· Foreign minister meets the press (18)
· Foreign minister meets the press (17)
· Foreign minister meets the press (16)
Tidbits  
    Chinese fireworks too noisy, say advisers
Two political advisers are seeking to extinguish firecrackers during the Chinese New Year holiday.
 
    1 million parking spaces needed in Beijing
Beijing needs to build at least 1 million parking spaces to cope with the increase of cars.
 
   
Copyright 1995-2006. All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form.
Note: Browsers with 1024*768 or higher resolution are suggested for this site.
Registration Number: 20100000002731
主站蜘蛛池模板: pgone太大了兽王免费视频 | 成人一a毛片免费视频 | 亚洲高清视频在线观看 | 国产亚洲自在精品久久 | 在线 | 一区二区三区四区 | 亚洲国产精品免费在线观看 | 久久九九免费视频 | 日韩精品一区二区三区视频 | 国产一级片网址 | www.三级| 午夜国产理论 | 国内精品伊人久久久久妇 | 日韩欧美在线观看一区 | 肥婆毛片 | 69交性视频 | 性做久久久久久久免费看 | 成年人视频在线免费 | 国产区久久 | 美女一级毛片免费不卡视频 | 九九成人 | 国产首页精品 | 国产成人精品视频在放 | 欧美另类视频一区二区三区 | 成人满18在线观看网站免费 | 情侣自拍啪啪 | 女人精aaaa片一级毛片女女 | 国产男女爽爽爽免费视频 | 国产日韩欧美精品 | 91热视频在线观看 | 99国产精品一区二区 | 日韩一级欧美一级毛片在线 | 国产激情久久久久影 | 国产在线黄 | 亚洲人成亚洲人成在线观看 | 中文字幕有码在线视频 | 高清精品一区二区三区一区 | 欧美一级成人 | 国产精品怡红院在线观看 | 麻豆日韩 | 国产日韩精品欧美一区喷 | 欧美老头老太做爰xxxx |