Ministry of Finance and the State Administration of Taxation, Circular on Issues Relevant to the Revision of the Rates of Pre-tax Deductions from Individual Income Tax of Family Proprietorships, Wholly Individually-owned Enterprises and Partnerships

财政部、国家税务总局关于调整个体工商户个人独资企业和合伙企业个人所得税税前扣除标准有关问题的通知

July 09, 2008 | BY

clpstaff &clp articles

The rate for pe-tax deduction of expenses for individual investors of partnerships raised.

Clp Reference: 3230/08.06.03 Promulgated: 2008-06-03

Issued: June 3 2008

Main Contents: The rate for the deduction of the expenses before individual income tax of the owners of family proprietorships and of investors in wholly individually-owned enterprises and partnerships is uniformly set at Rmb24,000 per year (Rmb2,000 per month).

Related Legislation: Circular on the Issuance of the (Measures for the Calculation of the Individual Income Tax of Family Proprietorships (Trial Implementation)), 1997; and Circular on the Issuance of the (Provisions for the Levy of Individual Income Tax on the Investors in Wholly Individually-owned Enterprises and Partnerships), 2000

Repealed Legislation: Circular on Revising the Rates of the Expenses of Owners of Family Proprietorships and of Investors in Wholly Individually-owned Enterprises and Partnerships that are Deductible from Individual Income Tax, 2006

clp reference:3230/08.06.03
prc reference:财税 [2008] 65号
promulgated:2008-06-03

This premium content is reserved for
China Law & Practice Subscribers.

  • A database of over 3,000 essential documents including key PRC legislation translated into English
  • A choice of newsletters to alert you to changes affecting your business including sector specific updates
  • Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
For enterprise-wide or corporate enquiries, please contact our experienced Sales Professionals at +44 (0)203 868 7546 or [email protected]