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Enterprise Income Tax Law of the People’s Republic of China

Order of the President of the People’s Republic of China
(No. 63)

The Enterprise Income Tax Law of the People’s Republic of China, which was adopted at the 5th Session of the 10th National People’s Congress of the People’s Republic of China on March 16, 2007, is hereby promulgated and shall come into force as of January 1, 2008.

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The branches and the foreign exchange administration departments of the State Administration of Foreign Exchange (SAFE) in all provinces, autonomous regions, and municipalities directly under the Central Government, the branches of the State Administration of Foreign Exchange in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo, and all Chinese-funded designated foreign exchange banks:
In order to improve the foreign exchange administration of foreign-funded enterprises, to facilitate the verification, payment, and settlement of foreign exchange capital (hereinafter referred to as the capital) of the foreign-funded enterprises, and to standardize the relevant business operations of the designated foreign-exchange banks (hereinafter referred to as the banks) and accounting firms, we hereby, in accordance with the Regulations of the Peoples Republic of China on Foreign Exchange Administration and the relevant provisions, provide notification on relevant business operations issues concerning the administration of the payment and settlement of the capital of foreign-funded enterprises after the running of the Foreign Exchange Business Information System for Direct Investment of the SAFE (hereinafter referred to as the Investment System) as follows:
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