Tax Issues Relevant to Engagement in the Business of Financial Asset Disposal by Foreign-invested Enterprises and Foreign Enterprises Circular

国家税务总局关于外商投资企业和外国企业从事金融资产处置业务有关税收问题的通知

Foreign enterprises in the PRC are required to pay value-added tax, business tax and enterprise income tax on the revenue from disposing Chinese financial assets.

(Issued by the State Administration of Taxation on January 7 2003.)

（国家税务总局于二零零三年一月七日发布。)

Offices of the State Administration of Taxation and Local Taxation Bureaux of all provinces, autonomous regions, municipalities directly under the central government and cities with independent development plans:

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