中华人民共和国外商投资企业和外国企业所得税(7)

中华人民共和国外商投资企业和外国企业所得税法(英文版)

year

beginning to make profit, be exempted from income tax in the first and

second years and allowed a fifty percent reduction in the third to fifth years. However, the exemption from or reduction of income tax on

enterprises with foreign investment engaged in the exploitation of

resources such as petroleum, natural gas, rare metals, and precious metals shall be regulated separately by the State Council. Enterprises with

foreign investment which have actually operated for a period of less than

ten years shall repay the amount of income tax exempted or reduced

already.

The relevant regulations, promulgated by the State Council before the

entry into force of this Law, which provide preferential treatment of

exemption from or reduction of income tax on enterprises engaged in