NOTICE ON REDUCING CONSOLIDATED INDUSTRIAL AND COMMERCIAL TAX ONSUGAR, BEER AND OTHER PRODUCTS PRODUCED BY ENTERPRISE WITH FOREIGNINVESTMENT

NOTICE ON REDUCING CONSOLIDATED INDUSTRIAL AND COMMERCIAL TAX ONSUGAR, BEER AND OTHER PRODUCTS PRODUCED BY ENTERPRISE WITH FOREIGNINVESTMENT (Ministry of Finance: 18 March 1993 [93] Code Finance and TaxationNo. 010) Whole Doc.

To the tax bureaus of various provinces, autonomous regions and municipalities, to the tax bureaus of various cities with separate planning, and to various sub-bureaus of offshore oil tax administrative bureaus: In order to promote the development of enterprise with foreign investment, embody the principle of fair tax burden and reasonable responsibility, after study a decision is taken to reduce consolidated industrial and commercial tax on the products including sugar and beer produced by enterprise with foreign investment, the reduced tax rates are as follows: --------------- Machine-processedsugar 14% Beet sugar 5% Gourmet powder 10% Canned foods 5% Beer 25% Fountain pen with a gold nib (including spare parts) 18% Iridium-point pen, ball pen (including spare parts) 13% Skin-and hair-care products 25% Perfumed soap 10% Soap and medical soap 5% --------------- This Notice goes into effect on March 1, 1993. If past stipulations are inconsistent with this Notice, the matter should be handled in accordance with this Notice. After unified tax reduction, the various local authorities should no longer approve tax reduction and exemption for the above-mentioned products.

gold nib (including spare parts) 18% Iridium-point pen, ball pen (including spare parts) 13% Skin-and hair-care products 25% Perfumed soap 10% Soap and medical soap 5% --------------- This Notice goes into effect on March 1, 1993. If past stipulations are inconsistent with this Notice, the matter should be handled in accordance with this Notice. After unified tax reduction, the various local authorities should no longer approve tax reduction and exemption for the above-mentioned products.