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STA Issues Announcement on Optimizing Tax Services and Simplifying and Consolidating Relevant Information Report Forms on Reporting Overseas Investment and Income of Resident Enterprises
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Chinese
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Category：Legislative Updates
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Subject：Fiscal policy and taxation
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Keywords：tax services; overseas investment; overseas income
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Source：Pkulaw
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Publish Date：09-28-2023
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Recently, the State Taxation Administration (STA) issued the Announcement on Optimizing Tax Services and Simplifying and Consolidating Relevant Information Report Forms on Reporting Overseas Investment and Income of Resident Enterprises.
In accordance with the Announcement, where a resident enterprise directly or indirectly holds 10% or more of the shares or voting shares of a foreign enterprise on one day of a tax year, the resident enterprise directly investing overseas should fulfill the obligation of reporting. If a resident enterprise operates via a domestic partner enterprise, when meeting the conditions of information reporting, the partner of the partner enterprise should fill in the report forms as a reporter. In addition, where an equity transfer occurs in the middle of a tax year, and therefore the shareholding ratio is less than 10% at the end of the year, such information should be still reported to the transferred overseas invested enterprise.
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