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Rules for the Implementation of the Income Tax Law of the People's Republic of China for Enterprises with Foreign Investment and Foreign Enterprises
(Promulgated by Decree No. 85 of the State Council of the People's Republic of China on June 30, 1991, and effective as of July 1, 1991)

Chapter I - General Provisions

Article 1

Article 2

Article 3

Article 4

Article 5

Article 6

Article 7

Article 8

Article 9

Chapter II - Computation of Taxable Income

Article 10

Article 11

Article 12

Article 13

Article 14

Article 15

Article 16

Article 17

Article 18

Article 19

Article 20

Article 21

Article 22

Article 23

Article 24

Article 25

Article 26

Article 27

Article 28

Article 29

Chapter III - Tax Treatment for Assets

Article 30

Article 31

Article 32

Article 33

Article 34

Article 35

Article 36

Article 37

Article 38

Article 39

Article 40

Article 41

Article 42

Article 43

Article 44

Article 45

Article 46

Article 47

Article 48

Article 49

Article 50

Article 51

Chapter IV - Business Dealings Between Associated Enterprises

Article 52

Article 53

Article 54

Article 55

Article 56

Article 57

Article 58

Chapter V - Withholding at Source

Article 59

Article 60

Article 61

Article 62

Article 63

Article 64

Article 65

Article 66

Article 67

Chapter VI - Tax Preferences

Article 68

Article 69

Article 70

Article 71

Article 72

Article 73

Article 74

Article 75

Article 76

Article 77

Article 78

Article 79

Article 80

Article 81

Article 82

Chapter VII - Tax Credits

Article 83

Article 84

Article 85

Article 86

Chapter VIII - Tax Administration

Article 87

Article 88

Article 89

Article 90

Article 91

Article 92

Article 93

Article 94

Article 95

Article 96

Article 97

Article 98

Article 99

Article 100

Article 101

Article 102

Article 103

Article 104

Article 105

Article 106

Article 107

Article 108

Article 109

Chapter IX - Supplementary Provisions

Article 110

Article 111

Article 112

Article 113

Article 114

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China - Rules for the Implementation of the Income Tax Law for Enterprises with Foreign Investment and Foreign Enterprises, 1991

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Rules for the Implementation of the Income Tax Law of the People's Republic of China for Enterprises with Foreign Investment and Foreign Enterprises
(Promulgated by Decree No. 85 of the State Council of the People's Republic of China on June 30, 1991, and effective as of July 1, 1991)

Chapter II - Computation of Taxable Income

Article 10

"The formula for the computation of taxable income" mentioned in Article 4 of the Tax Law is as follows:

(1) Manufacturing:

(a) Taxable income = (profit on sales) + (profit from other operations ) + (non-business income)£­(non-business expenses);

(b) Profit on sales = (net sales)£­(cost of products sold)£­(taxes on sales)£­[(selling expenses) + (administrative expenses) + ( finance expenses)];

(c) Net sales = (gross sales)£­[(sales returns) + (sales discounts and allowances)];

(d) Cost of products = (cost of products manufactured for the period) + (inventory of finished products at the beginning of the period)£­(inventory of finished products at the end of the period);

(e) Cost of products manufactured for the period = (manufacturing costs for the period) + (inventory of semi-finished products and products in process at the beginning of the period)£­(inventory of semi-finished products and products in process at the end of the period);

(f) Manufacturing costs for the period = (direct materials consumed in production for the period) + (direct labor) + (manufacturing expenses).

(2) Commerce:

(a) Taxable income = (profit on sales) + (profit from other operations ) + (non-business income)£­(non-business expenses);

(b) Profit on sales = (net sales)£­(cost of sales)£­(taxes on sales)£­[(selling expenses) + (administrative expenses ) + (finance expenses)];

(c) Net sales = (gross sales)£­[(sales returns) + (sales discounts and allowances)];

(d) Cost of sales = (inventory of merchandise at the beginning of the period) + ⌠(purchase of merchandise during the period)£­[(purchase returns) + (purchase discounts and allowances)] + (purchasing expenses)⌡£­(inventory of merchandise at the end of the period).

(3) Service trades:

(a) Taxable income = (net business income) + (non-operating income)£­(non-operating expenses);

(b) Net business income = (gross business income)£­[(taxes on business income) + (operating expenses) + (administrative expenses) + (finance expenses)].

(4) Other lines of business:

Computations shall be made with reference to the above formulas.


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