The Ministry of Foreign Trade and Economic Cooperation, the Ministry of Finance, the People’s Bank of China Provisions for the Use of Currency in Contributing Taxes to the State and in Settlement on Accounts with Enterprises or Individuals The Ministry of Foreign Trade and Economic Cooperation, the Ministry of Finance, the People’s Bank of China February 24, 1983 (Issued by the Ministry of Foreign Trade and Economic Cooperation, the Ministry of Finance, the People’s Bank of China on February In accordance with the pertinent stipulations laid down in the “Law of Chinese-foreign Equity Joint Ventures” and “Interim Regulations Article 1 Joint ventures shall contribute taxes and pay legitimate fees in Renminbi in all cases. No governmental organizations should accept (1) import and export duty; (2) industrial and commercial tax (industrial and commercial consolidated tax); (3) enterprise income tax and local surtax, income tax on remitted profit of the foreign participant; (4) urban real estate tax; (5) enterprise site use fee; (6) enterprise registration fee or enterprise registration alteration fee; (7) commodity inspection fee; (8) vehicle or vessel license fee; (9) road toll, harbour due; (10) individual income tax of foreign employees working in joint ventures. Article 2 Renminbi shall be used in the settlement on accounts between joint ventures and enterprises or individuals residing in China. No enterprises (1) fees charged for water, electricity and heating; (2) fees charged for domestic telephone calls, telexes, telegrams and other cost on communications; (3) domestic communications and transportation fees (including vehicle, ship and aircraft), personal service and other services; (4) payments by joint ventures on raw materials, fuels (coal, oil, gas), auxiliary equipment and other needed commodities supplied by (5) charges on manufactured or semi-manufactured goods sold by joint ventures to enterprises or individuals residing in China. Article 3 As circumstances alter, either Renminbi or foreign currency shall be used in the settlement on accounts between joint ventures and (1) Should joint ventures borrow loans in Renminbi from Bank of China residing in China, the repayment of the loans and interest shall (2) The insurance appropriate the joint ventures shall be furnished by Chinese insurance companies. Should the property of joint ventures (3) In accordance with the Categories of Export Commodities defined by the Ministry of Foreign Economic Relations and Trade, in their Joint ventures shall pay the freight rate in foreign currency to the General Administration of Civil Aviation of China, foreign trade Article 4 Except the undertakings of tourist hotel projects using foreign funds, capital construction units residing in China shall contract With the exception of the aforesaid stipulations, it is impossible to enumerate all payment items in economic transactions between These stipulations are applicable to the Chinese-foreign contractual joint ventures, cooperative exploration projects and enterprises The four Special Economic Zones of Shenzhen, Zhuhai and Shantou in Guangdong Province and Xiamen in Fujian Province may, with the |
The Ministry of Foreign Trade and Economic Cooperation, the Ministry of Finance, the People’s Bank of China
1983-02-24