State Administration of Foreign Exchange
Relevant Issues Concerning the Amendment to the Operative Procedures of Foreign Exchange Administration in Overseas Commodity Futures
Hedging Business of State-Owned Enterprises (For Trial Implementation)
Hui Fa [2005] No. 34
The branches and offices of the State Administration of Foreign Exchange of the People’s Republic of China (SAFE) in all provinces,
autonomous regions, municipalities directly under the Central Government, as well as the SAFE branches of municipalities of Shenzhen,
Dalian, Qingdao, Xiamen and Ningbo, as well as various head offices of designated foreign exchange banks with Chinese investment:
With a view to meeting the needs of the development of overseas commodity futures hedging business of state-owned enterprises, and
further regulating the administration of foreign exchange under commodity futures hedge, in according with pertinent provisions of
the Measures for the Administration of Overseas Futures Hedging Business of State-owned Enterprises (hereinafter referred to as the
Measures), relevant issues concerning the amendment to the Operative Procedures of Foreign Exchange Administration in Overseas Commodity
Futures Hedging Business of State-Owned Enterprises (For Trial Implementation) (hereinafter referred to as the Operative Procedures)
are hereby supplemented as follows:
1.
In Respect of the Confirmation of Risk Exposure and Its Administration
For an enterprise (hereinafter referred to as the enterprise) which has been granted a license of overseas commodity futures hedging
business as issued by the China Securities Regulatory Administration (hereinafter referred to as the CSRC) and has had its risk exposure
verified by the CSRC in the current year, it shall, if intending to apply for confirmation formality of risk exposure in the current
year, file an application to a local SAFE branch or office (hereinafter referred to as the local SAFE branch) for handling the formality
of risk exposure confirmation in the current year on presentation of the following materials:
(1)
a notice indicating the SAFE will verify risk exposure for an enterprise holding a license of overseas commodity futures hedging business
in the current year;
(2)
a written report showing the confirmation of the said enterprise for risk exposure in the current year, including the amount to be
applied for, development of import & export businesses under futures hedging business of the said enterprise, its preparation for
and present situation development of futures hedging business as well as the plan for the current year. Where it is not the first
time for the enterprise to file an application, utilization of risk exposure in the last year shall also be submitted; and
(3)
a bank statement of balance in the domestic special futures foreign exchange account by the end of last year or the end of preceding
month from the date of application.
The local SAFE branch shall report application materials to the SAFE within 7 working days from the receipt of all such materials
for the confirmation of the said enterprise’ risk exposure by the SAFE. The enterprise shall, within 1 month from receiving a confirmation
letter, apply to the local SAFE branch for dealing with the formalities of recordation and registration (modification) as well as
opening a foreign special futures account after being examined and approved.
Subject to the Measure, the aggregate of the enterprise’s deposits under futures and futures compensation amount as remitted accumulatively
in the current year, and the balance in its foreign futures special account by the end of last year shall not exceed the amount of
risk exposure confirmed in the current year. The enterprise shall present to the domestic opening bank a bank sheet of the balance
in its foreign special futures account by the end of last year, and such bank shall strictly control the amount of funds allowed
to be remitted by the said enterprise and handle well the registration of customs duty.
The enterprise may, within the scope of risk exposure confirmed by the SAFE, purchase foreign exchanges according to its demands as
the funds under overseas futures hedge.
2.
With Regard to the Administration of Domestic and Foreign Special Futures Accounts
In case the municipality where the enterprise is registered is different from that in which the local SAFE branch is located, a domestic
special futures account may be opened with a designated foreign exchange bank in a place where the said enterprises is registered
and the local SAFE branch in the same place shall also be responsible for the daily administration of foreign exchange. Except an
approval document of remitted initial deposit as set forth in Paragraph 2 of Article 4 hereof, an application for all other opinions
and official replies required to be made in written form shall, after initially examined by a SAFE central sub-branch in the place
where the enterprise is registered, be transmitted to a SAFE branch according to provisions.
Whereas the CSFC has made adjustment to approaches for the administration of the enterprises’ selection of overseas brokering institutions,
the material for examining an enterprise to open a foreign special futures account with the approval from local SAFE branch shall
be adjusted as: a written notice of the CSRC on the recordation filed by an enterprise with the CSRC concerning the foreign futures
brokering company under the selection of such enterprise.
3.
Permission to Enterprises for Retaining the Petty Cash Funds in a Certain Sum
As required by the business, local SAFE branch may ratify petty cash funds in foreign exchange at a certain rate in domestic and foreign
special futures accounts and retain such petty cash funds in the domestic special account for circulation and use, among which the
petty cash funds retainable in an foreign account shall refer to the petty cash funds other than those which must be retained by
any enterprise with a license for holding a position according to the requirements of any futures brokering institution. The aggregate
of upper limits of petty cash funds in foreign exchange retainable in a foreign special account at the same point in time shall not
exceed more than 30% of the amount of risk exposure in foreign exchange of the current year. Such aggregate shall be earmarked for
specified purpose only and be forbidden from appropriation.
4.
With Respect to the Administration of Initial Deposit Remittance
Any enterprise, if required to remit overseas the initial deposit under commodity futures, may apply to the opening bank for completing
the formality of initial deposit remittance on presentation of documents issued by the local SAFE for approving an application letter,
written agreement of account opening which is signed by the said enterprise and a foreign futures brokering company (institution)
that is approved by the local SAFE branch to open foreign special accounts. The accumulative amount of initial deposits remitted
in one year shall not exceed 20% of the amount of risk exposure in foreign exchange of the same year. If a rate higher than 20% is
required under special circumstances, such circumstances shall be firstly examined by the local SAFE branch and then reported to
the SAFE for approval.
In case an enterprise open a domestic special futures account with a bank of a place where it is registered, the initial deposit shall
be approved and remitted by the SAFE central sub-branch in the same place subject to the provisions mentioned above.
An enterprise must, within 1 month after the remittance of initial deposit, feed back to the local SAFE branch the receipt certificate
(Any of its original, duplicate, fax and email is acceptable.) which is affixed by the official seal of a collection brokering company.
5.
In View of the Feedback of Information and Date Statistics Thereof
Any enterprise and bank shall, within the first 10 working days in a month, be obliged to respectively submit to the local SAFE branch
the Monthly Report of Stock of Overseas Futures Hedging Foreign Exchange Funds (See Schedule 1 For Enterprises Use) of the preceding
month as well as the cash position statement issued by a domestic futures brokering institution from the end of last statement, with
an official seal of the said enterprise thereof (bank statement of balance); Monthly Report of Flow of Overseas Futures Hedging Foreign
Exchange Funds (Schedule 2 For Banks Use).
Any enterprise and bank shall be ordered to make rectification within a time limit by the local SAFE branch if failing to feed back
the date and information set out in Item 4 and 5 during a period without any justifiable reason; Where still failing to make rectification,
such enterprise and bank shall be imposed a penalty ranging from RMB 10 to 30 thousand yuan by the local SAFE branch according to
the seriousness of respective circumstances.
Subject to Article 5 of the Operative Procedures, the local SAFE branch shall, within 20 working dates from the end of each season,
report a Quarterly Report of Overseas Futures Hedging Foreign Exchange Funds (Schedule 3) of the current season in the form of disk
and written text to the SAFE.
6.
This Circular shall become effective as of the date of promulgation. For any business prior to such date, pertinent formalities such
as the application for limit of petty cash funds in foreign exchange deposited in foreign special futures account, shall be made
up within 1 month from the date of such promulgation. In case of any conflict between other provisions and provisions hereof, the
latter shall prevail. Anything not covered herein shall be subject to the Operative Procedures and the Circular of the State Administration
of Foreign Exchange on Several Issues Concerning the Opening Domestic Accounts in Foreign Exchange under Operative Procedures of
Foreign Exchange Administration in Overseas Commodity Futures Hedging Business of State-Owned Enterprises (For Trial Implementation).
Special circumstances shall be submitted to the SAFE for examination level by level.
Schedules:
1)
Monthly Report of Stock of Overseas Futures Hedging Foreign Exchange Funds (For Enterprises Use)
2)
Monthly Report of Flow of Overseas Futures Hedging Foreign Exchange Funds (For Banks Use)
3)
Quarterly Report of Overseas Futures Hedging Foreign Exchange Funds (For SAFE branches and offices)
State Administration of Foreign Exchange
May 17, 2005
htm/e04095.htm Schedule 1
Schedule 1:
Monthly Report of Stock of Overseas Futures Hedging Foreign Exchange Funds (For Enterprises Use)
(Date of Filling)
(Official Seal) Unit: Ten Thousand USD
Month
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Balance of Risk Exposure
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Limit of Petty Cash Funds Retainable in Domestic and Foreign Special Futures Accounts
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Total Sum of Petty Cash Funds Having Been Retained in the Foreign Special Account by the End of Last Month
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Balance in the Domestic Special Account by the End of Last Month
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Total Sum of the Balance in the Foreign Special Account by the End of Last Month
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Details of the Balance in the Foreign Special Account by the End of Last Month
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1
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2
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3
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4
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5
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1
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2
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4
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5
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12
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Responsible Person: Contact Tel: Handling Person: Contact Tel:
Note:
1. Details of the Balance in the Foreign Special Account by the End of Last Month: Any enterprise may, based on its own actual situations,
fill and report the information about the balance which is deposited in the account having been opened by a foreign futures brokering
company and has been approved by the SAFE branch.
2. Total Sum of the Balance in the Foreign Special Account by the End of Last Month= Item 1+Item2+Item3+Item4+Item5+Item. as Set
Forth in the Details of the Balance in the Foreign Special Account by the End of Last Month
Schedule 2:
Monthly Report of Flow of Overseas Futures Hedging Foreign Exchange Funds (For Banks Use)
Filling and Reporting Entity:(Official Seal)(Date of Filling:)Unit of Currency: Ten Thousand USD
Serial No.
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Name of Enter- prise
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Con- firmed Amount of Risk Expo-
sure in This Year
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Balance of Risk Expo- sure by the End of
This Month
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Domestic Account
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Fund Flow
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Balance in the Foreign Special Account by the End of Last Year
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Re- marks
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Ac- count No.
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Balance by the End of Last Month
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Amount Trans- ferred In for This Month
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Amount of the Pur- chased Foreign Ex- change
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Other Incomes of This Month
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Expendi- tures of This Month
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Amount of Settled Foreign Exchange
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Balance by the End of This Month
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Accumu- lative Expendi- tures of This Year
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Bene- ficiary
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Ac- count No.
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Use
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Ministry of Finance, State Administration of Taxation
Supplementary Notice of the Ministry of Finance and the State Administration of Taxation on the Policy Relating to the Individual
Income Taxes on Dividends and Bonuses
Cai Shui [2005] No. 107
The departments (bureaus) of public finance, bureaus of state taxation and local taxation of all provinces, autonomous regions, municipalities
directly under the Central Government and the cities under separate state planning and the public finance bureau of the Xinjiang
Production and Construction Corps:
For the purpose of further regulating the taxation policies of dividends and bonuses, and reinforcing tax revenue collection and management,
the implementation requirement on the exemption or reduction policies of individual income taxes concerning dividends and bonuses
is hereby notified as follows:
1.
For any income from dividend and bonuses as actually allotted by a listed company after the day of document Cai Shui [2005] No. 102
is distributed (including the very day of distribution), the reduction policies of individual income taxes shall be implemented according
to the provisions of document Cai Shui [2005] No. 102.
Those listed companies, which meet the aforesaid provisions and have paid individual income taxes in light of the full amount of dividends
and bonuses, may refund the excessive taxes as collected to individual investors according to the tax-reduction policies as prescribed
by document Cai Shui [2005] No. 102; where the tax amount has been turned in to the state treasury, it shall be refunded according
to the prescribed procedure by the taxation and public finance departments and shall be returned to individual investors by withholding
enterprises.
2.
For the incomes from dividend and bonuses of securities investment funds by allocation of a listed company, the taxable income shall
be calculated at a reduced rate of 50% when the withholding agent withholds the individual income taxes according to the provisions
of document Cai Shui [2005] No. 102.
3.
The term “listed companies” as mentioned in document Cai Shui [2005] No. 102 refers to the listed companies that are listed for the
transaction on the Shanghai Stock Exchange or Shenzhen Stock Exchange
Please implement it accordingly.
Ministry of Finance
State Administration of Taxation
June 24, 2005
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Ministry of Finance, State Administration of Taxation
2005-06-24
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Notice of the State Administration of Taxation on Doing a Good Job in Evaluating the Income Tax Payment of Foreign-funded Enterprises
and Foreign Enterprises
Guo Shui Han [2005] No. 449
The state taxation bureaus of all provinces, autonomous regions and municipalities directly under the Central Government and the cities
under separate state planning and the local taxation bureaus of Guangdong Province and Shenzhen Municipality:
Recently, the State Administration of Taxation has distributed the Measures for the Administration of Tax Payment Evaluation (for
Trial Implementation) (Guo Shui Fa [2005] No. 43, hereinafter referred to as the Measures for the Evaluation of Tax Payment), which
has uniformly regulated the means and measures for the evaluation of the payment of various taxes. In particular, it has clarified
the analysis indexes and the instructions thereof for the evaluation of the income tax of foreign-funded enterprises and foreign
enterprises (hereinafter referred to as the foreignCrelated enterprises). In order to effectively do a good job in the evaluation
of the income tax payment of foreign-related enterprises, we hereby notify the relevant issues as follows:
I.
Basic Requirements
Since 1998, in order to strengthen the administration of the income tax of foreign-related enterprises, the tax authorities at all
levels have successively carried out comparatively standardized measures concerning the settlement and payment, examination and evaluation
of taxes and tax audit on foreign-related enterprises and have, at the same time, tried out the measures of joint tax audit on those
foreign-related enterprises with trans-regional business operations. The practice of all these years has proved that the aforesaid
measures are effective means to strengthen the administration of tax sources. With the incessant elevation of the computerized administration
of tax collection, it is necessary to form a working system with the information pool, orderly operation and mutual promotion for
the administration of the income tax of foreign-related enterprises so as to form a resultant force of administration by means of
integrating administrative resources and further enhance the work efficiency. Therefore, all regions shall regard the popularization
of the evaluation of tax payment as an opportunity, organically blend the aforesaid measures for administration so as to make good
use of their respective advantages and avoid any conflict with each other or any overlapping work in the evaluation of tax payment.
1.
Including the examination and evaluation of taxes into the standardized evaluation of tax payment. The Measures for the Evaluation
of Tax Payment are a more standardized work procedure and a more scientific analysis index system designed on the basis ofsummarizing
the examination and evaluation of the taxes of foreign-relatedenterprises that are pointed to those weak links arising in the administrationof
tax sources in recent years and which also set a higher requirement for an in-depth analysis on the declared materials. Therefore,
the evaluation of tax payment is also an extension of the examination and evaluation of taxes and all regions shall include the examination
and evaluation of taxes into the evaluation of tax payment.
2.
Combining the settlement and payment of the income tax of foreign-related enterprises with some of the links in the evaluation of
tax payment. The settlement and payment of the income tax of foreign-related enterprises shall not only include filling in an annual
declaration form and paying its taxes in a timely manner by the enterprise, but also include carrying out a general examination on
the enterprises annual declaration forms and other relevant materials and handling the refund of overpaid annual income taxes and
repayment of any deficiency by the tax authority. Therefore, the same requirements shall be applicable to the general examination
and the preliminary evaluation of tax payment and desk analysis in the work of settlement and payment, so that they shall be carried
out in a combined manner.
3.
Taking the foreign-related tax audit as an important means of the evaluation of tax payment. The Audit Procedures for Foreign-related
Tax (hereinafter referred to as the Audit Procedures) has embodied the modern auditing techniques and scientific working procedures
and is a forceful means to carry out the daily inspections and provide high-quality services to the foreign-related enterprises for
the tax authorities, so that all regions may continue to bring the function of foreign-related tax audit into play and do a good
job in promoting the Audit Procedures. In order to enhance the capability of the qualitative and quantitative judgment on the authenticity
and accuracy of the tax declaration, the modern auditing techniques shall be applied to the link of desk analysis and the link of
on-site investigation and verification as well so as to organically combine the evaluation of tax payment and foreign-related tax
audit in the evaluation of the income tax of foreign-concerned enterprises,.
4.
The tax authority at a higher level may be responsible for the evaluation of the income tax of large-scale foreign-related enterprises.
As the organizational structure and business operations of large-scale foreign-related enterprises, especially those that have trans-regional
operations, are comparatively complicated, more standardized technical means shall be adopted in the implementation of the evaluation
of tax payment and the coordination of the tax authority at a higher level is needed for. According to the requirements as prescribed
in Article 3 of the Measures for the Evaluation of Tax Payment by all regions, for the purpose of evaluating the tax payment of
those large-scale foreign-related enterprises, if the desk analysis and on-site investigation and verification are needed, the administrative
department of international (foreign-related) taxation of the tax authority at a higher level in all regions shall take charge of
the organization and implementation based on the preliminary evaluation by the tax authority at the grass-root level.
II.
Concrete Work
As the administration of the income tax of foreign-related enterprises has a strong policy meaning, covers many aspects and boasts
a comparatively large number of work links, for which an annual settlement and payment shall be carried out and the daily examination
shall be conducted according to the Audit Procedures, we should, on the basis of an organic combination of the aforesaid work, do
a good job in the relevant links in the work of the evaluation of tax payment.
1.
The preliminary evaluation of tax payment. The preliminary evaluation shall refer to the procedure to carry out a general examination
on the accuracy of the declaring materials concerning the settlement and payment of the income tax of foreign-related enterprises.
In this phase, we should put emphasis on collecting and sorting out the declared information of taxpayers in all aspects on the basis
of ensuring the accuracy of the logical relationship within the declaration forms, and provide the source materials for forming the
basic data. All regions shall, before the end of May, carry out a preliminary appraisal and verification on the declared materials
of those foreign-related enterprises that have participated in the settlement and payment and shall put emphasis on the examination
in the following aspects:
(1)
Whether or not all items of declared materials are complete and ready; whether or not the declared data is in conformity with that
of tax payment.
(2)
Whether or not the main form of those declare forms of tax payment, the items in the annex form and the numbers as filled therein
are complete; whether or not the applicable tax items, rates and the calculation of numbers in all items are accurate; whether or
not the logical relationship between the main form and the annex form and between numbers and items is correct.
(3)
Whether or not the affiliated materials of tax declaration, namely, the formalities for declaration and approval, are authentic, accurate
and legal; and
(4)
Whether or not the difference between the number of tax declaration and that of accounting statements and the reason thereof, and
the adjustment of incomes, expenses, profits and other relevant items are in conformity with the provisions of laws and regulations
on tax collection.
2.
The desk analysis of the evaluation of tax payment. The desk analysis shall refer to the procedure to carry out an examination on
the reasonableness of declared materials concerning settlement and payment by using the evaluation and analysis index for the income
tax of foreign-related enterprises and the instructions thereof. In this phase, an evaluation of the current tax payment as declared
by the taxpayer shall be carried out to the tax-related information in the daily administration and, where any questionable point
is founded, an on-site investigation and verification shall be initiated, which may be carried out in the process of settlement and
payment or after the settlement and payment is concluded. The specific requirements are as follows:
(1)
The main objects of examination. We should conduct examination focused on the following enterprises. large-scale foreign-related enterprises,
profit-losing enterprises, enterprises of tax exemption, enterprises of tax reduction, zero-declaration enterprises, the enterprises
with comparatively low tax rate,the enterprises with trans-regional operations, the enterprises with comparatively low profitable
rate and the enterprises with associated transactions.
(2)
Measures for examination. We should make full use of the general analysis indexes and the analysis indexes and the instructions thereof
concerning the income tax of foreign-related enterprises in the Measures for the Evaluation of Tax Payment and at the same time,
we may use the measures for analytic review in the Audit Procedures to make an analysis on relevant indexes on the tendency and rates
as well as a comparison, find out those fields where any problem may exist, and provide clues for negotiation and on-site investigation
and verification and initiating an on-site investigation and verification.
(3)
The on-site investigation and verification for the evaluation of tax payment. The on-site investigation and verification shall refer
to the procedure to carry out an on-site examination on the authenticity of the materials as declared by a taxpayer in terms of those
questionable points as found in the phase of desk analysis. The on-site investigation and verification shall be conducted after the
work of settlement and payment is concluded. The relevant techniques and requirements regarding on-site auditing in the Audit Procedures
shall be applied to those foreign-concerned enterprises that have a comparatively mature financial and accounting system and a comparatively
large operating scale so as to enhance the technical content in the investigation and verification. At the same time, with regard
to the evaluation of the tax payment for those foreign-related enterprises that adopt an across-region operational mode and pay their
income taxes on a consolidated base, if an on-site investigation and verification is needed, it shall be conducted according to the
requirements of the Interim Measures for Joint Tax Audit on Foreign-related Enterprises as distributed by the State Administration
of Taxation.
(4)
The transfer of cases concerning the evaluation of tax payment. For any irregularity acts concerning tax collection or tax evasion
that shall be transferred to the tax investigation department and the administrative department of international taxation according
to the requirement of Measures on Evaluation of Tax Collection, all regions shall do a good job in transferring the working manuscript
of the evaluation of tax payment, data and materials. The State Administration of Taxation shall formulate concrete work procedures
for transferring cases based on the summarized experiences from different regions,. Where any doubtful point concerning tax evasion
of enterprise has been found before the on-site investigation and verification of the evaluation of tax payment, the administrative
department of international taxation at any level may carry out the anti-tax-evasion investigation in the phase of the investigation
and verification of the evaluation of tax payment.
III.
Measures for Guaranty
The evaluation of tax payment is an important measure to strengthen the administration of tax sources, lower taxation risks and optimize
the services of tax payment. All regions shall regard the evaluation of tax payment as an important means to strengthen the administration
of the income tax of foreign-related enterprises and effectively enhance the quality of work.
1.
Strengthening the leadership and clarifying functions and duties. According to the provisions of the Measures for the Administration
of the Evaluation of Tax Payment, the administrative departments of international (foreign-related) taxation of the tax authorities
at all levels shall be responsible for the supervision and control on the industry tax of the income tax of foreign-related enterprises,
for the establishment of index system for the evaluation of tax payment, for the calculation of early warning value of index, and
for the formulation of the specific evaluation measures, and shall provide the basis and guidance for the implementation of the evaluation
of tax payment of the tax authorities at the grass-root level. Therefore, the tax authorities at all levels shall strengthen their
leadership over the evaluation of the income tax payment of foreign-funded enterprises and the administrative departments of international
(foreign-related) taxation at all levels shall take effective measures to perform the aforesaid duties.
2.
Actively piloting and improving the indexes. The analysis indexes and how to use them in evaluating the income tax payment of foreign-related
enterprises as affiliated to the Measures for the Administration of the Evaluation of Tax Payment is abstracted on the basis of summarizing
the experiences of some provinces and municipalities. As there exist differences in the aspect of registered capital, operating scale,
industrial features and financial management, etc. whether they are scientific and reasonable or not shall be testified by more practice.
Therefore, all regions shall, on the basis of making full use of the present indexes system, pay more attention to collecting and
reporting the problems as found in the practical operations to the State Administration of Taxation timely so as to provide a decision-making
basis for establishing and improving a more scientific and reasonable indexes system. The State Administration of Taxation shall,
on the basis of summarizing the experiences of all regions, formulate specific measures for the evaluation of the income tax payment
of foreign-related enterprises.
3.
Intensifying examination and enhancing performance. Before the end of each year, all regions shall make a written summary on the evaluation
of the income tax payment of foreign-related enterprises (including the general situation, existing problems and the opinions and
suggestions for resolution), fill the Statistic Form for the Evaluation of the Income Tax Payment of Foreign-related Enterprises
(See attachment) and report it to the State Administration of Taxation (department of international taxation). The State Administration
of Taxation shall make assessment on the work of all regions and circulate it. At the same time, all regions shall establish a working
system for level-by-level assessment and regard the evaluation of tax payment as a main content of the annual work assessment.
Attachment: Statistic Form for the Evaluation of the Income Tax Payment of Foreign-related Enterprises
State Administration of Taxation
May 17, 2005
Attachment
Attachment:
Statistic
Form for the Evaluation of the Income Tax Payment of Foreign-related Enterprises
Name
of the declaration entity:
Year:
Unit: 10,000 yuan
Item |
Number
of Enterprises |
Adjustment
of the Taxable Income |
Adjustment
of the Taxable Income |
Actual
Amount as Turned into the State Treasury |
Adjustment
of Increase |
Adjustment
of Decrease |
Net
Increase(Decrease) |
Adjustment
of Increase |
Adjustment
of Decrease |
Net
Increase(Decrease) |
Tax
Amount |
Late
Fee |
Total |
Number
of Settlement and Payment |
|
– |
– |
– |
– |
– |
– |
– |
– |
|
Evaluation
of Tax Payment |
Preliminary
Evaluation |
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Desk
Analysis |
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On-site
Investigation and Verification |
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Total |
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Transfer |
Transfer
to the Department of Tax Investigation |
|
– |
– |
– |
– |
– |
– |
– |
– |
|
Transfer
to the Department of Anti-tax evasion |
|
– |
– |
– |
– |
– |
– |
– |
– |
|
Total
of Transfer |
|
– |
– |
– |
– |
– |
– |
Ministry of Commerce, China Export& Credit Insurance Corporation
Circular of Ministry of Commerce, China Export& Credit Insurance Corporation concerning Utilizing Export Credit Insurance to Support
the Development of Name Brand Export
Shang Mao Fa [2005] No. 332
In order to implement the spirit of the Central Committee of the People’s Republic of China and the State Council on accelerating
the cultivation of world famous name brand, implement the Directive Opinions on Supporting the Development of Name Brand Export (Shang
Mao Fa [2005] No. 124) issued by eight ministries including the Ministry of Commerce, accelerate the cultivation of autonomous name
brand cultivation, transform the increase mode of foreign trade, realize the sustainable development of foreign trade, the Ministry
of Commerce and China Export& Credit Insurance Corporation hereby notify the matters concerned utilizing foreign credit insurance
to support the development of name brand export as follows:
1.
The authorities in charge of commerce of all regions and the all the business offices of China Export& Credit Insurance Corporation
(hereinafter referred to as “Sinosure”) shall communicate with each other in time, understand the demand of the enterprises and study
the detailed measures concerning utilizing export credit insurance to support the development of name brand export.
2.
The authorities in charge of commerce of all regions shall coordinate with the local business offices of Sinosure to publicize the
functions of export credit insurance policy, encourage the enterprises listed in “name brand export under the preferred cultivation
and development” (hereinafter referred to as “name brand export enterprise”) to utilize export credit to develop international market
and internationalized operation.
3.
The business offices of Sinosure shall formulate special service plan for the name brand export enterprises within its jurisdiction,
giving specific support and reporting the relevant circumstances to the local authorities in charge of commerce.
4.
Where the name brand export enterprise is covered in export credit insurance, Sinosure shall, in accordance with the service life
hereof, render hereto the qualification of “preferred client” or “key client” enjoying the relevant supporting policy.
5.
Sinosure shall, by such new products as overseas investment insurance, overseas labor service insurance, provide preferential service
to name brand export enterprises for their establishment of research and development center, production base and marketing network
6.
Sinosure shall provide name brand export enterprises with such value-added services as national risk report, industrial analysis report
and risk management recommendation, appropriately provide more free or preferential credit information report, give priority to the
arrangement of “Sinosure Online” business operation and service system.
7.
Sinosure shall actively development new products, exploring new modes to provide insurance credit support in such linkages as production
originality and research& development, name brand marketing and extension, patent acquisition and protection.
8.
Such means as “special issues shall be solved specially in time” shall be taken to meet the individuation demand of the name brand
export enterprises.
All the units are required to comply with the spirit of the Circular in the process of their implementation. Once problems occur,
they shall inform the Ministry of Commerce (Department of Foreign Trade) and China Export& Credit Insurance Corporation (Department
of Business Development)
The Circular is hereby given.
Ministry of Commerce
China Export& Credit Insurance Corporation
June 24, 2005
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Ministry of Commerce, China Export& Credit Insurance Corporation
2005-06-24
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