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Circular to Clarify Issues Concerning the Administration of Enterprise Income Tax Exemption …

December 1, 2008

Circular to Clarify Issues Concerning the Administration of Enterprise Income Tax Exemption and Deduction

On December 1, 2008, the State Administration of Taxation released the Circular on Issues Concerning the Administration of Enterprise Income Tax ("EIT") Exemption and Deduction (the "Circular"), which takes effect on January 1, 2008, retroactively. The Circular emphasizes that exemption and deduction of EIT shall be carried out pursuant to the Administrative Measures on Tax Exemption and Deduction (interim) (the "Measures") promulgated on August 3, 2005. The purpose of the Circular is to clarify that the Measures, which mainly set forth the procedures for applying for and carrying out EIT exemption and deduction, are still effective, despite the issuance of the new Enterprise Income Tax Law (the "EIT Law"). However, if there is any conflict between the Measures and the EIT Law, the latter shall prevail.


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