FIEs pay CIT under investment license

25-Jan-2005 Intellasia | 24/Jan/2005 General Department of Taxation | 9:27 PM Print This Post

Corporate income tax rates imposed on foreign-invested is usually regulated in the investment license. Under Official Letter 240/TCT/DTNN dated January 18, 2005 of the General Department of Taxation, in the case if CIT rate is not regulated in details at the investment license, FIEs must pay CIT under the prevailing regulations (at each time) of GDT. Reportedly, from January 1, 2004, the common CIT rate of 28% is applied to FIEs and local businesses.
[Official Letter 240/TCT/DTNN dated January 18, 2005]


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