China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (2237)	12/24/2003 1:12:00 PM
From: RealMuLan	Read Replies (1) of 6370

China to give domestic, foreign firms equal tax treatment www.chinaview.cn 2003-12-24 20:32:59 BEIJING, Dec. 24 (Xinhuanet) -- China's minister of finance has said that the country will provide equal tax treatment for domestic and foreign-funded enterprises as it speeds up tax reform. Foreign-funded companies now enjoy more preferential tax policies than domestic companies, though nominal income tax was the same for both, Minister of Finance Jin Renqing told a nationalmeeting here Wednesday. A heavier burden for domestic enterprises is neither conducive to fair play nor in line with the practices of the World Trade Organization, at a time when China's reform and opening-up drive was entering a new stage, he said. "The current income tax rules for enterprises should be reformed," Jin noted, emphasizing that unified tax rules and policies should be enacted for domestic and foreign-funded enterprises while tax rates were appropriately adjusted. Enditem news.xinhuanet.com

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