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Notice of the Ministry of Finance, the State Administration of Taxation, the National Development and Reform Commission and the Ministry of Commerce on Issues concerning the Policy of Temporary Exemption of Withholding Income Tax from Overseas Investors' Direct Investment with Distributed Profits [Expired]
财政部、税务总局、国家发展改革委、商务部关于境外投资者以分配利润直接投资暂不征收预提所得税政策问题的通知 [失效]
【法宝引证码】

Notice of the Ministry of Finance, the State Administration of Taxation, the National Development and Reform Commission and the Ministry of Commerce on Issues concerning the Policy of Temporary Exemption of Withholding Income Tax from Overseas Investors' Direct Investment with Distributed Profits 

财政部、税务总局、国家发展改革委、商务部关于境外投资者以分配利润直接投资暂不征收预提所得税政策问题的通知

(No. 88 [2017] of the Ministry of Finance) (财税〔2017〕88号)

The public finance departments (bureaus), state taxation bureaus, local taxation bureaus, development and reform commissions, and competent commerce departments of all provinces, autonomous regions, municipalities directly under the Central Government, and cities under separate state planning; and the Financial Bureau, the Development and Reform Commission, and the Commerce Bureau of Xinjiang Production and Construction Corps: 各省、自治区、直辖市、计划单列市财政厅(局)、国家税务局、地方税务局、发展改革委、商务主管部门,新疆生产建设兵团财务局、发展改革委、商务局:
For the purposes of implementing the decisions and arrangements of the CPC Central Committee and the State Council, and, in accordance with the relevant requirements of the Notice of the State Council on Several Measures for Promoting the Growth of Foreign Investment (No. 39 [2017], State Council), further vigorously using foreign investment, promoting the growth of foreign investment, improving the quality of foreign investment, and encouraging overseas investors to constantly expand their investment in China, you are hereby notified of the issues concerning the policy of temporary exemption of withholding income tax from overseas investors' direct investment with distributed profits as follows: 为贯彻落实党中央、国务院决策部署,按照《国务院关于促进外资增长若干措施的通知》(国发〔2017〕39号)有关要求,进一步积极利用外资,促进外资增长,提高外资质量,鼓励境外投资者持续扩大在华投资,现对境外投资者以分配利润直接投资暂不征收预提所得税政策有关问题通知如下:
I. Where the profits distributed by a resident enterprise within the territory of China to an overseas investor are directly invested in an investment project which is in the encouragement category and is in conformity with the specified conditions, the project shall be governed by the deferred tax payment policy and be temporarily exempt from withholding income tax.   一、对境外投资者从中国境内居民企业分配的利润,直接投资于鼓励类投资项目,凡符合规定条件的,实行递延纳税政策,暂不征收预提所得税。
II. An overseas investor that is temporarily exempted from withholding income tax shall concurrently meet the following conditions:   二、境外投资者暂不征收预提所得税须同时满足以下条件:
(1) The direct investment made by the overseas investor with distributed profits includes the equity investment made by the overseas investor, such as increased capital funds, new construction, equity acquisition, among others, with the distributed profits, but excludes the increase, conversion or acquisition of shares of a listed company (excluding eligible strategic investment). It specially means: (一)境外投资者以分得利润进行的直接投资,包括境外投资者以分得利润进行的增资、新建、股权收购等权益性投资行为,但不包括新增、转增、收购上市公司股份(符合条件的战略投资除外)。具体是指:
(a) Increase or conversion of paid-up capital or capital reserve of a resident enterprise within the territory of China; 1.新增或转增中国境内居民企业实收资本或者资本公积;
(b) Investment in the formation of a new resident enterprise within the territory of China; 2.在中国境内投资新建居民企业;
(c) Acquisition of equities of any resident enterprise within the territory of China from a non-affiliated party; and 3.从非关联方收购中国境内居民企业股权;
(d) Other means specified by the Ministry of Finance and the State Administration of Taxation. 4.财政部、税务总局规定的其他方式。
The enterprises invested in by overseas investors by the aforesaid means of investment are collectively referred to as investees. 境外投资者采取上述投资行为所投资的企业统称为被投资企业。
(2) The profits distributed to the overseas investor are the dividends, bonuses or other equity investment income formed by the retained income that is actually distributed by a resident enterprise within the territory of China to the investor and has been realized. (二)境外投资者分得的利润属于中国境内居民企业向投资者实际分配已经实现的留存收益而形成的股息、红利等权益性投资收益。
(3) Where the profits of the overseas investor used for direct investment are paid in cash, the relevant funds shall be directly transferred from the account of the profit distributing enterprise to the account of the investee or the equity transferor, and shall not be turned over to other accounts at home and abroad before the direct investment is made; and where the profits of the overseas investor used for direct investment are paid in kind, negotiable securities or other non-cash forms, the ownership of the relevant assets shall be transferred directly from the profit distributing enterprise to the investee or the equity transferor, and may not be held by any other enterprise or individual on its behalf or be held temporarily before the direct investment is made.
......
 (三)境外投资者用于直接投资的利润以现金形式支付的,相关款项从利润分配企业的账户直接转入被投资企业或股权转让方账户,在直接投资前不得在境内外其他账户周转;境外投资者用于直接投资的利润以实物、有价证券等非现金形式支付的,相关资产所有权直接从利润分配企业转入被投资企业或股权转让方,在直接投资前不得由其他企业、个人代为持有或临时持有。
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