Tax

• State Administration of Taxation, Taxation Treatment Issues Concerning Bad Debt Losses Arising from Engagement in Telecommunications Business by Foreign-invested Enterprises Circular

  国家税务总局关于外商投资企业从事电信业务所发生的坏账损失税务处理问题的通知

  While prohibited to make bad debt provisions, foreign telecom operators may now treat customers' bill overdue for a year or more as bad debt.

  March 31, 2004

• Ministry of Finance and State Administration of Taxation, Relevant Tax Issues Concerning Exports of Production Enterprises whose Tax is not Refunded or whose Tax Rebate Rates are Lowered Circular

  财政部、国家税务总局关于生产企业出口不退税和调低退税率货物有关问题的通知

  Producers now has to bear the burdens for the tax portion that is not refunded.

  March 31, 2004

• Other Recent Legislation for this Month

  National LegislationAccountingSystem for Review of the Practice Quality of Accounting Firms (Trial Implementation) 会计师事务所执行质量检查制度（试行）L3110/04.03.04Construction(Administration…

  February 29, 2004

• China Securities Regulatory Commission, Questions and Answers on the Standards for Information Disclosure by Companies that Offer Securities to the Public (No. 1): Extraordinary Gain or Loss (2004 Revision)

  中国证券监督管理委员会公开发行证券的公司信息披露规范问答第1号－非常性损益(2004年修订)

  Clarifies the disclosure requirement for listed companies regarding non-recurring gain or loss.

  February 29, 2004

• State Administration of Taxation, Issues Relevant to Preferential Tax Policy Enjoyed by "Two Intensive" Projects of Foreign-invested Enterprises Circular

  国家税务总局关于外商投资企业享受“两个密集型”税收优惠政策有关问题的通知

  Scope of the preferential tax policy for products of technology and knowledge-based industries.

  January 31, 2004

• State Administration of Taxation, Administration of Tax Registration Procedures

  国家税务总局税务登记管理办法

  The new Procedures exempt state authorities, individuals and mobile small rural merchants from tax registration requirements.

  January 31, 2004

• State Council, Reform of the Current Export Tax Rebate Mechanism Decision

  国务院关于改革现行出口退税机制的决定

  Issued: October 13 2003Main contents: The Decision states that the rates of export tax rebates are to be adjusted according to different types of products.…

  November 30, 2003

• State Council, PRC Import and Export Customs Duty Regulations

  国务院中华人民共和国进出口关税条例

  Promulgated: November 23 2003Effective: January 1 2004Main contents: As compared to the repealed 1992 Regulations, the new Regulations set forth the criteria…

  November 30, 2003

• State Administration of Taxation, Issues Relevant to the Follow-up Administration after Cancellation of Certain Examination and Approval Requirements in Connection with Foreign-invested Enterprise and Foreign Enterprise Income Tax Circular

  国家税务总局关于取消外商投资企业和外国企业所得税若干审批项目后续管理有关问题的通知

  Issued: October 24 2003Effective: January 1 2003Main contents: The Circular details the follow-up administration after the cancellation of the examination…

  November 30, 2003

• State Administration of Taxation, Implementation Approach on Preferential Treatment for Income Tax of Newly Established Enterprises Official Reply

  国家税务总局关于新办企业所得税优惠执行口径的批复

  Issued: November 18 2003Main contents: The Official Reply clarifies that the date of commencement of business of a newly established enterprise or work…

  November 30, 2003