Q:
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Can corporate income tax be paid by instalment for investment with non-monetary assets?
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A:
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The taxable Income derived from the transfer of non-monetary assets for a resident enterprise can be divided equally within 5 years to pay corporate income tax.
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Q:
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How long is the limitation for common enterprises to use losses of current year to make up deficit for subsequent years?
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A:
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The losses suffered by an enterprise during a tax year may be carried forward and made up by the incomes during subsequent years, however, the carry-forward period may not exceed 5 years.
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Q:
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What is the minimum depreciation period for instruments, tools and office furniture relating to enterprise’s operation?
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A:
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The minimum depreciation period for instruments, tools and office furniture is 5 years unless there are other regulations issued by state financial or tax administration.
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Q:
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What is the time limitation for before-tax deduction for expenses incurred in previous years?
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A:
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If enterprises obtain invoices or other external supporting documents in subsequent years , which were unavailable before and the related expenses not deducted before tax calculation, then the corresponding expenditure is allowed to be deducted before tax in the year in which the expenditure incurred, but the number of years for recovery shall not exceed five years.
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Q:
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When should the fiscal funds not paid out and not paid back by the enterprise be calculated as taxable income?
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A:
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If fiscal funds have been recorded as tax-free income but not paid out and not paid back to the government within 5 years, the funds should be calculated as taxable income and pay tax in the sixth year.
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FAQ
