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Ministry of Finance
Accounting Standard for Business Enterprises No. 10 – Enterprise Annuity Fund
Cai Kuai [2006] No. 3
February 15, 2006
Chapter I General Provisions
Article 1
To standardize the confirmation and measurement of enterprise annuity fund and the presentation of financial statements, these Standards
are formulated in accordance with the Accounting Standard for Business Enterprises – Basic Standards.
Article 2
The term “enterprise annuity fund” refers to fund raised by an enterprise in the light of the enterprise annuity plan and the supplementary
endowment insurance fund raised by its operating income of investment.
Article 3
The enterprise annuity funds shall be confirmed, measured and presented as independent accounting subjects.
The entrusting party, entrusted party, trustee, account manager, investment manager and other subjects providing services for the
management of enterprise annuity fund shall strictly distinguish the enterprise annuity fund and its fixed assets from other assets
so as to ensure the safety of the enterprise annuity fund.
Chapter II Confirmation and Measurement
Article 4
The enterprise annuity fund shall be confirmed and measured respectively on the basis of assets, liabilities, incomes, expenses and
net assets.
Article 5
The assets formed by payments for the enterprise annuity fund and by the operation of the annuity fund shall include the monetary
funds, settlement accounts receivable of securities, interests receivable, purchases of resale securities, other receivables, bond
investments, fund investments, stock investments and other investments.
Article 6
During the operation of the enterprise annuity fund, the initial acquisition values and subsequent values of the national debt gained
under the State investment scope, the financial debentures and enterprise obligations with the credit rating at the investment grade
or above, convertible obligations, investment insurance products, securities investment funds, stocks and other financial products
with good liquidity shall be measured as the fair value:
(1)
The transaction price paid on the transaction date shall be measured as the fair value when an initially investment obtained. The
transaction fee shall be directly recorded as profit or loss for the current period; and
(2)
When estimating the value of an investment on the estimate day, the original carrying value of the investment shall be adjusted according
to its fair value, and the difference between its fair value and its original carrying value shall be recorded as profit or loss
for the current period.
The determination of the fair value of an investment shall be subject to the Accounting Standard for Business Enterprises No. 22 –
Recognition and Measurement of Financial Instruments.
Article 7
The liabilities formed during the operation of the enterprise annuity fund include the settlement accounts receivable of securities,
beneficiaries’ treatments payable, the management fees payable to the entrustee, the management fees payable to the custodian, the
management fees payable to the investment manager, the taxes payable, the sale accounts of repurchased bonds, the interests payable,
the commissions payable, and other accounts payables.
Article 8
The incomes formed by the operations of the enterprise annuity fund include the interest incomes on deposits, interests, from the
buying of resold bonds, gains on the changes in the fair value, incomes of investment disposal, and other incomes.
Article 9
The incomes shall be confirmed and measured according to the following provisions:
(1)
The interest incomes on deposits shall be determined according to the principal and applicable interest rate;
(2)
The incomes from buying of resold bonds shall, within the time limit of securities loan, be determined according to the purchase price
of the resold bonds, and the interest rate as stipulated in the agreement;
(3)
The gains on the changes in the fair value shall, on the estimate date, be determined according to the difference between the fair
value of the investment on the current date and the original carrying value (namely the fair value of the investment on the previous
estimate date);
(4)
The incomes of investment disposal shall be determined according to the difference between the price obtained from the sale of investment,
and the carrying value of the investment; and
(5)
Other incomes such as risk reserves shall be determined according to the amount actually incurred.
Article 10
The expenses incurred during the operation of the enterprise annuity fund include the transaction expenses, management fees of the
entrusted party the trustee, and the investment manager, the disbursements for the sale of repurchased bonds, and other expenses.
Article 11
The expenses shall be confirmed and measured according to the provisions as follows:
(1)
The transaction expenses, including the commission charge, commissions and other necessary disbursements paid to the commissioned
agents, consultation agents and broker, the amount of which shall be determined in accordance with the actually incurred amount;
(2)
The management fees payable to the entrusted party, trustee, and investment manager shall be determined according to the actual amount
of provisions;
(3)
The disbursements for the sale of repurchased bonds shall, within the time limit for financing, be determined in accordance with the
sales price of the repurchased bonds and the interest rate as stipulated in the agreement;
(4)
Other expenses shall be determined in accordance with the actually incurred amount.
Article 12
The net assets of the enterprise annuity fund refers to the balance of the assets of the enterprise annuity fund minus liabilities.
The date of balance sheet shall carry forward the incomes and expenses of the current period into the net assets.
Different accounts shall be created for the net assets of an enterprise in view of the enterprise itself and the individual employees,
and the distributed operating proceeds shall timely be recorded in each of the aforesaid accounts in accordance with the plan of
the enterprise on annuity fund.
Article 13
The net assets shall be confirmed and measured in accordance with the provisions as follows:
(1)
For the payments collected from the enterprise and employees, the net assets shall be increased according to the amount received;
(2)
For the treatments paid to the beneficiaries, the net assets shall be reduced in accordance with the amount payable;
(3)
As the transfer-in amount of an individual account incurred due to an employee’s transfer into the enterprise, the net assets shall
be increased; and
(4)
As the transfer-out amount of an individual account incurred due to an employee’s transfer out of the enterprise, the net assets shall
be reduced.
Chapter III Presentation
Article 14
The financial statements for the enterprise annuity fund include the balance sheets, net assets change statements and annotations.
Article 15
The balance sheet shall reflect the financial status of the enterprise annuity fund on a specific date. It shall be presented and
sorted by the assets, liabilities and net assets.
Article 16
The items of the assets shall at least present the information as follows:
(1)
The monetary fund;
(2)
The settlement accounts receivable of bonds;
(3)
The receivable interests;
(4)
The purchases of resold securities;
(5)
Other accounts receivable;
(6)
The bond investments;
(7)
The fund investments;
(8)
The stock investments;
(9)
Other investments; and
(10)
Other assets.
Article 17
The items of the liabilities shall at least present the information as follows:
(1)
The settlement accounts payable of bolds;
(2)
The beneficiaries’ treatments payable;
(3)
The management fees payable to the entrustee;
(4)
The management fees payable to the trustee;
(5)
The management fees payable to the investment manager;
(6)
The taxes payable;
(7)
The amounts from the sale of repurchased bonds;
(8)
The payable interests;
(9)
The commissions payable; and
(10)
Other payables.
Article 18
The items of the net assets shall present the net value of the enterprise annuity fund.
Article 19
The net assets change statements shall reflect the increases and reductions of the net assets of the enterprise annuity fund, and
present the information as follows:
(1)
The opening net assets;
(2)
The current amount of increase of the net assets, including the current incomes, payments collected from the enterprise, payments
collected from the employees, transfer-in of individual accounts;
(3)
The current amount of reduction of net assets, including the current expenses, treatments paid to the beneficiaries, transfer-out
of individual account; and
(4)
The closing net assets.
Article 20
The annotations shall disclose the information as follows:
(1)
The main contents and important changes of the annuity fund plan of an enterprise;
(2)
The sorts of investments, amounts, and methods for the confirmation of the fair value;
(3)
The proportion of each kind of investments to the total amount of investments; and
(4)
Any other item that is likely to cause important influence on the investment value.
Appendix: Balance Sheet htm/e04960.htm ¼
Appendix:
Balance Sheet
No. 01 Annual Annuity Fund
Entity: Year Month Date Unit: Yuan
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Assets
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Line No.
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Opening Amount of the year
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Closing Amount
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Liabilities and Net Assets
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Line No.
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Opening Amount of the year |
Closing Amount
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Assets
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Liabilities
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Monetary funds
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Settlement accounts payable of securities
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Settlement accounts receivable of securities
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Payable treatments to beneficiaries
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Interests receivable
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Management fees payable to the entrustee
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Purchases of resale securities
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Management fees payable to the trustee
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Other receivables
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Management fees payable to the investment manager
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Bond investments
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Taxes payable
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Fund investments
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Price of sale of repurchased bonds
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Stock investment
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Interests payable
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Other investments
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Commission payable
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Other assets
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Other payables
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Total amount of liabilities
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Net assets:
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Net value of annuity funds of the enterprise
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the Ministry of Finance
Accounting Standards for Enterprises No. 20 – Business Combinations
Cai Kuai [2006] No. 3
February 15, 2006
Chapter I General Provisions
Article 1
With a view to regulating the recognition and measurement of business combinations, and disclosure of relevant information, the present
Standards are formulated according to the Accounting Standards for EnterprisesDBasic Standards.
Article 2
The term “business combinations” refers to a transaction or event bringing together two or more separate enterprises into one reporting
entity.
Business combinations are classified into the business combinations under the same control and the business combinations not under
the same control.
Article 3
The business combinations regarding business operation shall be subject to the present Standard.
Article 4
The present Standards does not apply to the following business combinations:
(1)
Any business combination in which two or more enterprises form a joint venture;
(2)
Any business combination in which two or more separate enterprises are brought together into a reporting entity merely by contract
other than ownership shares.
Chapter II Business Combinations under the Same Control
Article 5
A business combination under the same control is a business combination in which all of the combining enterprises are ultimately controlled
by the same party or the same parties both before and after the business combination and on which the control is not temporary.
In a business combination under the same control, the party which obtains control of other combining enterprise(s) on the combining
date is the combining party, the other combining enterprise(s) is (are) the combined party.
The “combining date” refers to the date on which the combining party actually obtains control on the combined party.
Article 6
The assets and liabilities that the combining party obtains in a business combination shall be measured on the basis of their carrying
amount in the combined party on the combining date. As for the balance between the carrying amount of the net assets obtained by
the combining party and the carrying amount of the consideration paid by it (or the total par value of the shares issued), the additional
paid-in capital shall be adjusted. If the additional paid-in capital is not sufficient to be offset, the retained earnings shall
be adjusted.
Article 7
Where, during a business combination under the same control, the accounting policy adopted by the combined party is different from
that adopted by the combining party, the combining party shall, according to accounting policy it adopts, adjust the relevant items
in the financial statements of the combined party, and shall, pursuant to the present Standard, recognize them on the basis of such
adjustment.
Article 8
The direct cost for the business combination of the combining party shall, including the expenses for audit, assessment and legal
services, be recorded into the profits and losses at the current period.
The bonds issued for a business combination or the handling fees, commissions and other expenses for assuming other liabilities shall
be recorded into the amount of initial measurement of the bonds or other debts. The handling fees, commissions and other expenses
for the issuance of equity securities for the business combination shall be credited against the surplus of equity securities; if
the surplus is not sufficient, the retained earnings shall be offset.
Article 9
Where a relationship between a parent company and a subsidiary company is formed due to a business combination, the parent company
shall, on the combining date , prepare a consolidated balance sheet, a profit statement and a cash flow statement.
In the consolidated balance sheet, the assets and liabilities of the combined party shall be measured pursuant to their carrying amount.
If it is necessary to make an adjustment according to the present Standard because the accounting policy adopted by the combined
party is different from that adopted by the combining party, the assets and liabilities of the combined party (parties) shall be
measured on the basis of the post-adjustment carrying amount.
The consolidated profit statement shall include the incomes, expenses and profits of the combining party incurred from the beginning
of the current period to the combining date. The net profits of the combined party which has been realized prior to the combination
shall be reflected through an item separately presented in the profit statement.
The consolidated cash flow statement shall include the cash flow of the parties to the combination from the beginning of the current
period to the combining date.
When preparing consolidated financial statements, the internal dealings of the parties to the combination shall be treated according
to the Accounting Standards for Enterprises No. 33 – Consolidated Financial Statement.
Chapter III Business Combination Not under the Same Control
Article 10
A business combination not under the same control is a business combination in which the combining enterprises are not ultimately
controlled by the same party or the same parties both before and after the business combination.
In a business combination not under the same control, the party which obtains the control on other combining enterprise(s) on the
purchase date is the acquirer, and other combining enterprise(s) is (are) the acquiree.
The “acquisition date” refers to the date on which the acquirer actually obtains the control on the acquiree.
Article 11
An acquirer shall determine the combination costs respectively in light of the following circumstances:
(1)
For a business combination realized by a transaction of exchange, the combination costs shall be the fair values, on the acquisition
date, of the assets paid, the liabilities incurred or assumed and the equity securities issued by the acquirer in exchange for the
control on the acquiree.
(2)
For a business combination realized by two or more transactions of exchange, the combination costs shall be the summation of the costs
of all separate transactions.
(3)
All relevant direct costs incurred to the acquirer for the business combination shall also be recorded into the cost of business combination.
(4)
Where any future event that is likely to affect the combination costs is stipulated in the combination contract or agreement, if it
is likely to occur and its effects on the combination costs can be measured reliably, the acquirer shall record the said amount into
the combination costs.
Article 12
The acquirer shall, on the acquisition date, measure the assets given and liabilities incurred or assumed by an enterprise for a business
combination in light of their fair values, and shall record the balances between them and their carrying amounts into the profits
and losses at the current period.
Article 13
The acquirer shall distribute the combination costs on the acquisition date, and shall, according to Article 14 of the present Standards,
recognize all identifiable assets, liabilities and contingent liabilities it obtains from the acquiree.
(1)
The acquirer shall recognize the positive balance between the combination costs and the fair value of the identifiable net assets
it obtains from the acquiree as business reputation.
The business reputation upon initial measurement shall be measured on the basis of its costs minus the accumulative impairment provisions.
The impairment of business reputation shall be treated according to the Accounting Standards for Enterprises No. 8 – Asset Impairment.
(2)
The acquirer shall, pursuant to the following provisions, treat the balance between the combination costs and the fair value of the
identifiable net assets it obtains from the acquiree:
(a)It shall reexamine the measurement of the fair values of the identifiable assets, liabilities and contingent liabilities it obtains
from the acquiree as well as the combination costs;
(b)If, after the reexamination, the combination costs are still less than the fair value of the identifiable net assets it obtains
from the acquiree, it shall record the balance into the profits and losses of the current period.
Article 14
The” fair value of the identifiable net assets of the acquiree” refers to the balance of the fair value of the identifiable assets
acquired from the acquiree in a business combination minus the fair value of the liabilities and contingent liabilities. The identifiable
assets, liabilities and contingent liabilities which meet the following conditions shall be recognized separately:
(1)
As for the assets other than intangible assets acquired from the acquiree in a business combination (not limited to the assets which
have been recognized by the acquiree), if the economic benefits brought by them are likely to flow into the enterprise and their
fair values can be measured reliably, they shall be separately recognized and measured in light of their fair values.
As for any intangible asset acquired in a combination, if its fair value can be measured reliably, it shall be separately recognized
as an intangible asset and shall measured in light of its fair value.
(2)
As for the liabilities other than contingent liabilities acquired from the acquiree, if the performance of the relevant obligations
are likely to result in any out-flow of economic benefits from the enterprise, and their fair values can be measured reliably, they
shall be separately recognized and measured in light of their fair values.
(3)
As for the contingent liabilities of the acquiree obtained in a combination, if their fair values can be measured reliably, they shall
separately recognized as liabilities and shall be measured in light of their fair values. After a contingent liability is measured
initially, it shall be subject to a subsequent measurement according to the higher one of the following amounts:
(a)the amount which shall be recognized according to the Accounting Standards for Enterprises No. 13 – Contingent Events.
(b)the balance of the initially recognized amount minus the accumulative amortization amount which is recognized according to the
principle of the Accounting Standards for Enterprises No. 14 – Revenue.
Article 15
Where a relationship between a parent company and a subsidiary company is formed due to a business combination, the parent company
shall prepare accounting books for future reference, which shall record the fair values of the identifiable assets, liabilities and
contingent liabilities it obtains from the subsidiary company on the acquisition date. When preparing consolidated financial statements,
it shall adjust the financial statements of the subsidiary company on the basis of the fair values of the identifiable assets, liabilities
and contingent liabilities determined on the acquisition date.
Article 16
Where a business combination occurs at the end of the current period, if the fair values of the identifiable assets, liabilities and
contingent liabilities acquired in the combination or the cost of the business combination can only be determined temporarily, the
acquirer shall recognize and measure the business combination on the basis of the temporarily determined values.
Where an adjustment is made to the temporarily determined values within 12 months after the acquisition date, it shall be deemed as
the recognition and measurement on the acquisition date.
Article 17
Where a relationship between a parent company and a subsidiary company is formed due to a business combination, the parent company
shall prepare a combined balance sheet on the acquisition date, which shall present the identifiable assets, liabilities and contingent
liabilities acquired in the combination at their fair values. As for the balance between the combination cost of the parent company
and the fair value of the identifiable net assets it obtains from the subsidiary company, it shall present the result of the treatment
according to the present Standards.
Chapter IV Disclosure
Article 18
Where a business combination occurs at the end of the current period, the combining party shall, in its notes, disclose the following
information related to the business combination under the same control:
(1)
the basic information on the combining enterprises;
(2)
the grounds for the judgment of the business combination under the same control;
(3)
the basis for the determination of the combining date;
(4)
Where the consideration for the combination is the cash paid, the non-cash assets transferred and the liabilities assumed, it shall
disclose the carrying amount of the consideration on the combining date. Where equity securities are issued as consideration for
the combination, it shall disclose the number of the equity securities issued during the combination, the pricing principle as well
as the proportion of the shares with voting power exchanged by the parties to the combination;
(5)
The carrying amounts of the assets and liabilities of the combined party on the balance sheet date of the prior accounting period
as well as on the combining date; the information on the revenue, net profits and cash flow of the combined party from the beginning
of the current period, in which the combination occurs, to the combining date;
(6)
the information on the contingent liabilities of the combined party to be assumed according to the stipulations of the combination
contract or agreement;
(7)
an explanation on the adjustment made because the accounting policy adopted by the combined party is different from that adopted by
the combining party; and
(8)
the carrying amount or disposal price of the combined party’s assets or liabilities which have been disposed of or are to be disposed
of.
Article 19
Where a business combination occurs at the end of the current period, the acquirer shall, in its notes, disclose the following information
on the business combination not under the same control:
(1)
the basic information on the combining enterprises;
(2)
the basis for the determination of the acquisition date;
(3)
the composition, carrying amount and fair value of the combination costs, as well as the method for the determination of the fair
value thereof;
(4)
the carrying amounts and fair values of the identifiable assets and liabilities of the acquiree on the balance sheet date of the previous
accounting period as well as on the acquisition date
(5)
the information on the acquiree’s contingent liabilities to be assumed according to the stipulations of the combination contract or
agreement;
(6)
the information on the revenues, net profits and cash flow of the acquiree from the acquisition date to the end of the reporting period
(7)
the amount of business reputation and the determination method adopted;
(8)
the amount which is recorded into the profits and losses of the current period because the combination cost is smaller than the fair
value of the identifiable net assets acquired from the acquiree in the business combination;
(9)
the carrying amount or disposal price of the acquiree’s assets or liabilities which have been disposed of or are to be disposed of.
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the Ministry of Finance
2006-02-15
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the State Administration of Taxation
Circular of the State Administration of Taxation on Further Regulating the Work for the Administration of Key Sources of Income Tax
of Foreign-related Enterprises
Guo Shui Han [2006] No.244
March 3rd, 2006
The bureaus of state taxation of all the provinces, autonomous regions, municipalities directly under the Central Government, and
cities specifically designated in the state plan, and the local taxation bureaus of Guangdong Province and Shenzhen City,
With a view to strengthening administration on the sources of income tax of foreign-funded enterprises and foreign enterprises (hereinafter
referred to as “foreign-related enterprises”), the State Administration of Taxation distributed the Circular of the State Administration
of Taxation on Relevant Issues concerning Strengthening the Administration on the Sources of Income Tax of Foreign-related Enterprises
(Guo Shui Han No.435 [2004], hereinafter referred to as the Circular on the Administration on Sources of Income Tax of Foreign-related
Enterprises), and requested the enterprises of key tax sources to establish the mechanisms for monitoring, early warning, reporting
and circulating reports. In light of the requirements of the Circular on the Administration on the Sources of Income Tax of Foreign-related
Enterprises, we hereby make the following circular on relevant concrete issues concerning doing a good job for the administration
on key sources of income tax of foreign-related enterprises:
I.
Establishing the System of Management on the Key Sources of Income Tax of Foreign-related Enterprises in the Charge of Special Persons
1.
Determining the key tax sources. Each locality shall, in light of the actual conditions, determine the key tax source enterprises
of its own locality. In principle, the total revenue of income taxes payable by the key tax source enterprises, which is annually
determined by each locality, shall account for more than 50% of the total revenue of income taxes of foreign-related enterprises
within its own locality. Where an enterprise is under any of the following circumstances, it shall be regarded as a key tax source
enterprise: (1) its annual sales income is 100 million yuan or more; (2) the annual foreign-related enterprise income tax paid by
it is 5 million yuan or more; (3) it is on the Name List of Key Source Enterprises of Foreign-related Enterprise Income Tax Countrywide
determined by the State Administration of Taxation (See Attachment I); (4) it is listed in the top ten enterprises in terms of the
revenue of foreign-related enterprise income tax in this locality; and (5) it is determined by each locality as a key tax source
to be monitored.
2.
Establishing standard archives. Each locality shall, for the enterprises that have been brought into the list of key tax sources of
its locality, take various measures to establish the mechanism of communication between taxation agencies and enterprises, and set
up enterprise archives for the key tax source enterprises by industrial sectors and accounts. It shall track and make investigations
on them on the monthly or quarterly basis. In case any abnormal condition is discovered in the monthly or quarterly income, the locality
shall analyze the reasons in a timely manner, and file the analysis results into the archives of enterprises. Each locality shall
make flexibility analysis and industry analysis on the relevant economic indicators and the revenue of income tax of the key tax
source enterprises in terms of their operation and taxation conditions, and file the relevant analysis reports into the enterprises’
archives.
3.
Appointing special personnel to take charge. Each locality shall establish a high efficient system for monitoring and managing the
key tax source enterprises, and master the alteration of the key tax sources and the trend of change in the revenue of enterprise
income tax in a timely, accurate and overall manner, and make timely predication on the revenue of income tax of foreign-related
enterprises. The international (foreign-related) taxation administrations at the provincial level shall appoint special personnel
to take charge of the work of tax source monitoring and revenue analysis on the key tax source enterprises.
Each locality shall fill in the Form of Basic Information of Key Tax Source Enterprises of Income Tax of Foreign-related Enterprises
(See Attachment II), which are included in the Name List of Key Tax Source Enterprises of Income Tax of Foreign-related Enterprises
and among the top ten enterprises of the locality in terms of the revenue of foreign-related enterprise income taxes. The aforesaid
Form of Basic Information of Key Tax Source Enterprises of Income Tax of Foreign-related Enterprises and the names and contact telephones
of the personnel in the international (foreign-related) taxation administrations at the provincial level who take charge of monitoring
the key tax source enterprises and income analysis shall be reported to the State Administration of Taxation (International Taxation
Department) before the end of April, 2006 by floppy disks or CDs.
II.
Further Regulating the Mechanism of the Management on Key Tax Sources of Income Taxes of Foreign-related Enterprises and the Income
Analysis
In light of the particularity and effectiveness of the management of income tax of foreign-related enterprises, the department of
international (foreign-related) taxation management of each locality shall effectively combine the work for the management on key
tax sources of foreign-related enterprises and the revenue analysis work so as to improve the efficiency and quality of the management
on tax sources of income tax of foreign-related enterprises and the work of income analysis. Therefore, you shall focus your work
on the following:
1.
Monthly Analysis. Each locality shall make a brief analysis on the monthly revenue of income taxes of foreign-related enterprises
at the locality by month. The emphasis shall be laid on making a brief analysis on the factors of increase and decrease in terms
of the abnormal changes (an increase of 0%) incurred in the monthly revenue of its own locality by referring to the relevant conditions
of the key tax source enterprises of its locality. Each locality shall, before the 8th day of the next month (postponed in the case
of festivals or holidays), fill in the Form of Revenue Analysis of Income Taxes of Foreign-related Enterprises (For monthly analysis)
(See Attachment III) concerning the abnormal alteration of the monthly income and the reasons that account for such an alteration,
and report it to the State Administration of Taxation (International Taxation Department). No report may be made if there is no abnormality.
2.
Quarterly Analysis. Each locality shall, on the basis of the monthly analysis, make an in-depth analysis quarterly on the total profit
of the key tax source enterprises and other relevant economic indicators, the quarter prepayment of foreign-related enterprise income
taxes of its locality as well as the accumulative income, and fill in the Statistics Form of Income Tax Revenue of Foreign-related
Enterprises of the Key Tax Source Enterprises and the Profit Thereof (For Quarterly Analysis) (See Attachment IV), so as to evaluate
the prepayment of income taxes of foreign-related enterprises, discover the imbalance of entry of state treasury and other problems
and make prediction on the revenue of the current year. Each locality shall, before the 25th day of the next month after the end
of each quarter (postponed in the case of festivals or holidays), fill in the Statistics Form of Income Tax Revenue of Foreign-related
Enterprises of the Key Tax Source Enterprises and the Profit Thereof in light of the prepayment of income taxes of the last quarter,
and a written analysis report, and report them to the State Administration of Taxation (International Tax Department).
3.
Annual Analysis. The annual analysis shall be conducted at two stages:
(1)
Each locality shall, at the end of the fourth quarter each year by referring to the incomes, costs, profits and other relevant economic
indicators of the key foreign-related tax source enterprises, make an in-depth analysis on the prepayment of taxes of the last quarter
and the revenue of the whole year, make a detailed and systematic analysis on all the major factors affecting the increase and decrease
of the revenue of its own locality. Such an analysis report shall be reported to the State Administration of Taxation (International
Taxation Department) before January 31 of the next year.
(2)
Each locality shall, by referring to the settlement and payment of income taxes of foreign-related enterprises, make an overall and
detailed analysis on the operation of the key tax source enterprises, the tax payment thereof and the income tax revenue of the foreign-related
enterprises of the current year, and fill in the Form of Information on Income Tax of Foreign-related Enterprises by Nature and Industry
(Annual Analysis) (See Attachment V). The analysis shall include the flexibility analysis on the year-round operations of the key
tax source enterprises, the tax payment thereof, relevant economic indicators and the income tax revenue of foreign-related enterprises
(full standard), the analysis on the year-round revenue by industries and economic types, the analysis on tax burdens and the prediction
on the revenues of the next year, and etc.. When making an annual analysis, each locality may, for the taxation and major economic
indicators (for example, the sales profit rate) within the whole country by industry, district, or enterprise scale, consult the
“Basic Data of Foreign-related Enterprises in the Year 2000-2003” and the “Basic Data of Income Taxes of Foreign-related Enterprises
Countrywide in 2004”, which have been distributed at the meeting of international (foreign-related) taxation work countrywide. The
aforesaid annual analysis report and the Form of Information on Income Tax of Foreign-related Enterprises by Nature and Industry
shall be reported to the State Administration of Taxation (International Tax Department) before August 25 of the next year.
III.
Requirements for Data Collection and Analysis Report Submission
Each locality shall, when determining foreign-related key tax source enterprises and filling in the analysis form, make full use of
the “Key Tax Source Investigation and Analysis System” by the department of statistics, and try its best to collect data from this
System. A single archive shall be established for the foreign-related key tax source enterprise that is not listed in the aforesaid
System.
Each locality may report the monthly and quarterly analysis materials by fax (010-63417977) or via the FTP (network) of the State
Administration of Taxation (Path: the State Administration of Taxation/CENTER/International Taxation Department/Department of Taxation
Collection Administration). The annual reports shall be submitted as official documents. For the convenience of making statistics
and analysis, the written materials reported shall be made in Microsoft WORD, while the tables shall take be made in EXCELL.
IV.
Establishing the System of Regular Circulation of Reports
The State Administration of Taxation shall collect information and circulate regular reports on the work of management on key tax
sources of foreign-related enterprise income taxes, income tax revenues and the analysis reports on the revenue reported, and pay
attention to the examination on the quality and effectiveness of the aforesaid work, and circulate a report of criticism on the districts
with low quality in the work of management on key tax sources and the work of revenue analysis.
Each locality may formulate concrete measures for the management on key tax sources and income analysis according to the realities,
and continuously improve the efficiency and quality of the work for the management and analysis on income taxes of foreign-related
enterprises, and strengthen the monitoring and management on foreign-related key tax source enterprises in an earnest and efficient
manner.
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