1993.08.11
STATE BUREAU OF TAXATION
CIRCULAR ON THE QUESTION CONCERNING THE RELATIONS BETWEEN FINANCIAL AND
ACCOUNTING SYSTEM OF ENTERPRISE WITH FOREIGN INVESTMENT AND EXTERNAL
TAXATION REGULATIONS
(State Administration of Taxation: 11 August 1993 Coded Guo Shui Fa
[1993] No. 062)
To the tax bureaus of various provinces, autonomous regions and
municipalities, the tax bureaus of various cities with independent
planning and the various sub-bureaus of the Offshore Oil Tax
Administration:
The Circular on the Question Concerning
Enterprise with Foreign Investment Implementing the General Rules on
Enterprise Finance and the Enterprise Financial System of Different
Trades and the Circular on Enterprise with Foreign Investment
Implementing the Stipulations on Some Questions Concerning the New
accounting System issued by the Ministry of Finance in the from of
documents Coded (93) Cai Gong Zi Nos. 87 and (93) Cai Kuai Zi No. 27.
The documents stipulate that enterprise with foreign investment should
begin of July 1, 1993 to implement the General Rules on Enterprise
Finance, the Norm of Enterprise Accounting and the financial and
accounting system of different trades. Recently some regions asked the
question as to how to properly handle the relationship between the
enterprise financial and accounting system and the external taxation
regulations. We hereby issue the following circular on related
questions:
I. If there are different stipulations in the enterprise financial and
accounting system carried out by enterprise with foreign investment and
the external taxation regulations, while calculating tax payment, the
enterprise shall implement the stipulations of the external taxation
regulation.
II. If it is stipulated in the external taxation regulations that, when
calculating tax payment, the taxation handling method can be carried out
only after it is examined and approved by the tax authorities, the
enterprise shall handle the matter by following the prescribed
examination and approval procedures.
III. With regard to the problems related to taxation encountered by
enterprise with foreign investment in the course of implementing the
enterprise financial and accounting system, the various local tax
authorities should make timely investigation and collection of these
problems, offer their opinions on handling the matter and report to the
State Administration of Taxation in order to that the administration can
conduct unified study and handling the matter.
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