Q:
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What kind of non-resident enterprises need to implement the annual clearance and reconciliation of enterprise income tax (EIT)?
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A:
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Non-resident enterprises established in accordance with the laws of foreign countries (regions) and whose actual management is not in China, but who establish organizations and sites within the territory of China, regardless of profits or losses, shall participate in the annual clearance and reconciliation of income tax.
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Q:
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Under what circumstances, non-resident enterprises may not conduct annual clearance and reconciliation for EIT?
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A:
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The non-resident enterprises who meet one of the following conditions may not conduct annual clearance and reconciliation for EIT:
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1.
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those come to China under temporary contract and only provide labour services for less than 1 year, and terminate the business activities in the middle of the year and has settled all tax payments
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2.
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those have deregistered within the period of final settlement
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3.
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others with the approval of the competent tax authorities.
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Q:
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What is the deadline for the annual clearance and reconciliation settlement?
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A:
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All enterprises shall, within 5 months from the end of the year, submit their annual enterprise income tax return to the tax authorities, make a final settlement and settle the tax payable and or refund.
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Q:
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By what way can an enterprise deduct its donation for poverty at actual full amount before tax?
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A:
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Only when an enterprise donates through a public welfare social organization or a government and its departments above county-level (including county-level) and its directly affiliated institutions aiming at poverty alleviation in targeted poverty alleviation regions, the actual amount of donation can be deducted before tax.
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Q:
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How many years can an enterprise in film industry carry forward its losses in 2020?
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A:
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An enterprise in film industry can carry forward its losses in 2020 for eight years instead of the standard five years.
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FAQ
