(July 2, 1999)
For the purposes of encouraging enterprises with foreign investment to engage in energy resources and communications infrastructure projects and promoting the economic development in middle and western areas, and in accordance with the relevant provisions of the income Tax Law of the People's Republic of China for Enterprises with Foreign Investment and Foreign Enterprises, the State Council decides to enlarge the scope of application of the provisions on tax preferences to enterprises with foreign investment engaging in energy resources and communications infrastructure projects. It is hereby notified as follows:
Beginning from January 1,1999, the provisions of item (3) of subparagraph (1) of the first paragraph of Article 73 of the Rules for the Implementation of the Income Tax Law of the People's Republic of China for the implementation of the Income Tax Law of the People's Republic of China for Enterprises with Foreign Investment and Foreign Enterprises, which prescribe that the enterprise income tax on production-oriented enterprises with foreign investment engaging in energy resources and communications infrastructure projects may be levied at a reduced rate of fifteen percent, after being submitted to and approved by the State Administration of Taxation, are enlarged to all areas of the whole country for implementation.
This translation, together with any explanatory material, is provided courtesy of Lehman Tax & Accounting.
