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State Administration of Taxation
Notice of the State Administration of Taxation on the Issues concerning Futures Brokerage Companies’ Paying Enterprise Income Taxes
Guo Shui Han [2005] No. 104
The bureaus of state taxes and those of local taxes of all provinces, autonomous regions, municipalities directly under the Central
Government and the cities specifically designated in the state plan,
In accordance with the spirit of Some Opinions of the State Council on Promoting the Reform and Opening and the Steady Growth of the
Capital Market (No.3 [2004] of the State Council) and upon the receipt of a letter of the China Securities Regulatory Commission
for requesting to study and solve the issues concerning enterprise income taxes of the futures industry, after deliberation, the
notice on the place for futures brokerage companies to pay enterprise income taxes is hereby given as follows:
According to relevant provisions in the Interim Regulations on Enterprise Income Tax of the People’s Republic of China and the Detailed
Rules for Implementing the Interim Regulations on Enterprise Income Tax of the People’s Republic of China, for the business office
subordinated to a futures brokerage company in which unified settlement, unified risk control, unified capital allocation, unified
accounting and financial management are carried out, the taxpayer of enterprise income taxes shall be the said futures brokerage
company. Therefore, the futures brokerage company shall uniformly pay enterprise income taxes at its headquarter.
The State Administration of Taxation
January 26, 2005
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