Article 1 of the Enterprise Income Tax Law stipulates that within the territory of People's Republic of China (PRC), enterprises and other income-earning organizations (hereinafter referred to as enterprises) are taxpayers of enterprise income tax and shall pay enterprise income tax in accordance with the provisions of this Law.
This law is not applicable to sole proprietorship enterprises and partnership enterprises.
Article 2 stipulates that enterprises are divided into resident enterprises and non-resident enterprises. Resident enterprises mentioned in this Law refer to enterprises established in China according to law, or enterprises established in accordance with the laws of foreign countries (regions) but with actual management institutions in China.
According to the above provisions, fund companies in the form of legal person companies belong to resident enterprises and are taxpayers of enterprise income tax. A fund in the form of a partner belongs to a partnership, not a corporate income tax payer. According to the Notice of State Taxation Administration of The People's Republic of China, Ministry of Finance of People's Republic of China (PRC) on the Income Tax of Partners in Partnership Enterprises (Caishui [2008] 159), the partnership enterprise takes each partner as the taxpayer. If the partners of a partnership are natural persons, they shall pay individual income tax; If the partners are legal persons or other organizations, they shall pay enterprise income tax.
According to the Provisional Regulations on Value-added Tax, Business Tax, Consumption Tax, Resource Tax, Stamp Duty, Vehicle and Vessel Tax and Property Tax, eligible enterprise funds and partnership funds are taxpayers (payers) of value-added tax, business tax and consumption tax. Those who meet the requirements are withholding agents and shall perform their withholding obligations.
2. Article 26 of the Enterprise Income Tax Law stipulates that the following income of an enterprise is tax-free income:
(1) Debt interest income;
(two) dividends, bonuses and other equity investment income between qualified resident enterprises.
Article 82 of the Regulations for the Implementation of the Enterprise Income Tax Law stipulates that the debt interest income mentioned in Item (1) of Article 26 of the Enterprise Income Tax Law refers to the interest income obtained by enterprises holding government bonds issued by the financial department of the State Council.
Article 83 stipulates that the dividend, bonus and other equity investment income between eligible resident enterprises mentioned in Item (2) of Article 26 of the Enterprise Income Tax Law refers to the investment income obtained by resident enterprises directly investing in other resident enterprises. Dividends, bonuses and other equity investment income mentioned in Item (2) and Item (3) of Article 26 of the Enterprise Income Tax Law do not include the investment income obtained by resident enterprises who have continuously held shares that are publicly issued and circulated for less than 12 months.
Notice of State Taxation Administration of The People's Republic of China, Ministry of Finance of People's Republic of China (PRC) on Exemption of Income Tax on Interest of Local Government Bonds (Caishui [2013] No.5) stipulates:
1. Interest income of local government bonds issued in 20 12 and subsequent years obtained by enterprises and individuals shall be exempted from enterprise income tax and personal income tax.
2. Local government bonds refer to bonds issued and repaid by the governments of provinces, autonomous regions, municipalities directly under the Central Government and cities under separate state planning with the approval of the State Council.
Therefore, the income from equity investment such as debt interest income, local government bond interest income, dividends and bonuses obtained by fund management companies from foreign investment belongs to tax-free income.
The enterprise income tax policy of securities investment funds can be implemented according to the following provisions: Article 2 of the Notice of State Taxation Administration of The People's Republic of China of the Ministry of Finance on Some Preferential Policies for Enterprise Income Tax (Caishui [2008] 1No.) stipulates the preferential policies to encourage the development of securities investment funds:
(1) The income obtained by securities investment funds from the securities market, including the price difference income from buying and selling stocks and bonds, dividend income from equity, interest income from bonds and other income, will not be levied for the time being.
(2) No enterprise income tax is levied on the income obtained by investors from the distribution of securities investment funds.
(3) No enterprise income tax will be levied on the difference income of securities investment fund managers who use funds to buy and sell stocks and bonds.
Article 1 of the Notice of State Taxation Administration of The People's Republic of China of the Ministry of Finance on Tax Issues Concerning Open-end Securities Investment Funds (Caishui [2002] 128) stipulates that the funds raised by issuing funds do not belong to the scope of business tax collection, and business tax is not levied.
Article 2 Income tax stipulates that individual income tax will not be levied on the difference income obtained by individual investors from purchasing and redeeming fund shares for the time being, and will be levied after the difference income from individual stock trading resumes; The difference income obtained from the purchase and redemption of fund shares by enterprise investors shall be incorporated into the taxable income of enterprises, and enterprise income tax shall be levied.
The Notice of the Ministry of Finance of People's Republic of China (PRC), State Taxation Administration of The People's Republic of China, on the Tax Policy of Securities Investment Funds (Caishuizi [2004] No.78) stipulates that since June 5438+1 October1day, managers of securities investment funds (closed-end securities investment funds and open-end securities investment funds) will continue to be exempted from business tax and enterprise income tax on the difference income from buying and selling stocks and bonds.
There is no special tax policy for private equity funds.