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> Policy Doucument>Regulations>Circular
of the Ministry of Finance on the Limit of Authority of Examining
and Approving the Investment Reclaim by the Foreign Copartners of
Chinese-foreign Contractual Joint Ventures |
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Circular of the Ministry
of Finance on the Limit of Authority of Examining and Approving
the Investment Reclaim by the Foreign Copartners of Chinese-foreign
Contractual Joint Ventures
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CaiGongZi [1998] No.20 March 11,1998
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All the local finance
departments (bureaus) of various provinces, autonomous regions, municipalities
directly under the Central Government and municipalities separately
listed on the State plan, all the offices of financial inspection
commissioners in various provinces, autonomous regions, municipalities
directly under the Central Government and municipalities separately
listed on the State plan and Corps of production and construction
of Xinjiang:
The issue on the limit of authority of examining and approving the
investment reclaim before paying the income tax of enterprises by
the foreign copartner of Chinese-foreign contractual joint ventures
has been recently required for clarification from the Ministry. After
investigation, the following is the notification:
Whereas Article 22 of the Law of the People's Republic of China on
Chinese-foreign Contractual Joint Ventures prescribing that the foreign
copartners of the Chinese-foreign contractual joint ventures should
apply the financial and taxation institutions for inspection and approval
when they plan to reclaim the investment before paying the tax contract
in terms of the contract, the central Chinese-foreign contractual
joint ventures who are registered in the offices of financial inspection
commissioners stationed in the provinces, autonomous regions, municipalities
directly under the Central Government and municipalities separately
listed on the State plan by the State Administration of Finance should
be examined and approved by the State Administration of Finance through
the hereinabove corresponding institutions . The local Chinese-foreign
contractual joint ventures who are registered in the local financial
institutions should be approved by the financial departments (bureaus)
of the provinces, autonomous regions, municipalities directly under
the Central Government and municipalities separately listed on the
State plan level by level.
Promulgated by The State Administration of Finance on 1998-3-11 |
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