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The Ministry of Finance
Letter of the Ministry of Finance on Dealing the Inconformity between the Enterprise Financing Regulations and Tax Laws and Regulations
CaiShangZi [1998] No.74
February 16 1998
When the enterprises confirm income, cost, expenditure and loss and deal in loss and profit, accounting, and management of assets
and liabilities, it must be carried out in strict accordance with the “two principles” and “two systems” and related the unified
systems of financing and accounting stipulated by the Ministry of Finance. During the confirmation of tax sum at time of application
of paying the tax, the balance between accounting profit before taxation and total value of tax resulting from the different caliber
and timing of calculation can be only handled as adjustment of taxation, not changing the original settlement and the accounting
record that are in line with the provisions of financing systems.
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The Ministry of Finance
1998-02-16
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