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| Unified Income Tax System for Both Domestic and Foreign Enterprises is under Deliberation |
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| 朱暮 |
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By Julian Zhu, Beijing
Published: Dec. 22, 2006
Beijing, December 24—The new Draft Enterprise Income Tax Law supporting the unification of enterprise income tax laws in China has been submitted to the ongoing 25th Session of the Standing Committee of the Tenth National People’s Congress for deliberation.
It is reportedly that it is clearly stipulated in the Draft that the proposed Enterprise Income Tax Law will apply to both domestic and foreign enterprises, with proposed tax rate 25%.
The deliberation on this Draft indicates the process of the unification of the two different enterprise income taxes respectively applicable to domestic and foreign enterprises that has been undergoing 3 years is forming a preliminarily clear results.
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