NOTICE ON READJUSTMENT OF TAX ITEMS AND TAX RATES OF CONSOLIDATEDINDUSTRIAL AND COMMERCIAL TAX ON TEXTILES PRODUCED BY ENTERPRISE WITHFOREIGN INVESTMENT
NOTICE ON READJUSTMENT OF TAX ITEMS AND TAX RATES OF CONSOLIDATEDINDUSTRIAL AND COMMERCIAL TAX ON TEXTILES PRODUCED BY ENTERPRISE WITHFOREIGN INVESTMENT
(Ministry of Finance: 18 January 1993, Code Finance and Taxation[93] No. 002)
Whole Doc.
To the tax bureaus of various provinces, autonomous regions and
municipalities, tax bureaus of various cities with separate planning,
sub-bureaus of offshore oil tax administrative bureaus:
In order to meet the needs of opening to the outside world and give
expression to the principle of fair tax burden and facilitate the
development of foreign-funded enterprises, after study, the following
stipulations are hereby worked out on the tax items and tax rates of
consolidated industrial and commercial tax on the textiles produced by
enterprise with foreign investment as well as related issues:
I. Readjusting the tax items and tax rates for textiles. for the
readjusted tax items and tax rates (see Appendix).
II. Intermediate products manufactured by the enterprise with foreign
investment itself and are used in the production of the enterprise are
exempt from tax. In order to balance the tax burden of single weaving
factory and comprehensive factory, with regard to the other wool textiles
produced with the purchased, already taxed, wool yarn and knitting wool,
consolidated industrial and commercial tax may be levied at 5 percent in
accordance with the stipulations on the same tax item for processed and
remade products; On the wool knitted textiles, wool replicas, fake fur and
other textiles produced with purchased, already taxed, wool yarn, knitting
wool, cotton yarn, cotton-type chemical fiber yarn, ramie yarn, natural
silk, and chemical fiber, consolidated industrial and commercial tax may
be levied at a 50 percent reduction of the payable tax.
III. As regards the question concerning to what tax category do the
readjusted textiles belong, it should be implemented in accordance with
the annotations on the tax items of VAT issued by the State Administration
of Taxation.
IV. This notice goes into effect on January 1, 1993.
Appendix: Readjustment Table on the Tax Items and Tax Rates of
Consolidated Industrial and Commercial Tax on Textiles
Appendix:
Readjustment Table On the Tax Items and Tax Rates of
Consolidated Industrial and Commercial Tax on Textiles
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Tax Items Tax Rates
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Chemical fiber 5%
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Textiles
(1) Wool textiles
Wool stripes 5%
Wool knitted fabrics, wool
fabrics, fake fur 7%
Other wool textiles 12%
(2) Other textiles 5%
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ol, cotton yarn, cotton-type chemical fiber yarn, ramie yarn, natural
silk, and chemical fiber, consolidated industrial and commercial tax may
be levied at a 50 percent reduction of the payable tax.
III. As regards the question concerning to what tax category do the
readjusted textiles belong, it should be implemented in accordance with
the annotations on the tax items of VAT issued by the State Administration
of Taxation.
IV. This notice goes into effect on January 1, 1993.
Appendix: Readjustment Table on the Tax Items and Tax Rates of
Consolidated Industrial and Commercial Tax on Textiles
Appendix:
Readjustment Table On the Tax Items and Tax Rates of
Consolidated Industrial and Commercial Tax on Textiles
------------------
Tax Items Tax Rates
------------------
Chemical fiber 5%
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Textiles
(1) Wool textiles
Wool stripes 5%
Wool knitted fabrics, wool
fabrics, fake fur 7%
Other wool textiles 12%
(2) Other textiles 5%
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