| Journal Call no. | HF5601.N43 |
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| Author | Fu, Joseph. |
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| Article Title | PRC tax reforms : Enterprise Income Tax / Joseph Fu. |
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| Is Part Of | The Hong Kong accountant ; v.5, no.2, Mar/Apr 1994, p.61-62, illus. |
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| Abstract | The Provisional Regulations of the PRC concerning the Enterprise Income Tax (EIT) which came into effect on 1 January 1994 merely unifies and make provisions concerning enterprise income tax for domestic Chinese enterprises. Income Tax of foreign enterprises continues to be governed by the Income Tax Law of the PRC concerning Foreign Investment Enterprises and Foreign Enterprises. Nevertheless, it is clearly indicated by the Chinese authorities that they are aiming at the unification of income tax rules for foreign and domestic enterprises, similar to what have been achieved in the reform of both individual and turnover tax. The current unification of domestic enterprises income tax law will undoubtedly pave the way for the ultimate unification of the tax system for domestic and foreign enterprises. |
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