State Administration of Taxation, Announcement on Issues Concerning the Enterprise Income Tax Treatment of Income Derived from the Transfer of Property, Etc. by Enterprises

国家税务总局关于企业取得财产转让等所得企业所得税处理问题的公告

December 14, 2010 | BY

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Tax should be paid in one year for income derived from property transfer.

Clp Reference: 3230/10.10.27 Promulgated: 2010-10-27 Effective: 2010-11-26

Issued: October 27 2010
Effective: 30 days from the date of issuance

Main contents: When an enterprise derives revenue from the transfer of property (including various types of assets, equity, claims, etc.), debt restructuring, acceptance of donations, payables that are impossible to discharge, etc., it shall, regardless of whether such revenue is realised in monetary or non-monetary form, include all of the same in the year that is recognised to be the year in which such revenue is derived, and calculate and pay enterprise income tax thereon (Article 1).

Related legislation: Implementing Regulations for the PRC Enterprise Income Tax Law, Dec 6 2007, CLP 2008 No.1 p.21

clp reference:3230/10.10.27prc reference:国家税务总局公告 [2010] 第19号promulgated:2010-10-27effective:2010-11-26

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