It's Happening....
Internal Revenue Service Works to Serve Businesses Going Global
- Details
- Category: Ningbo Business
- Published: Tuesday, 25 August 2015 12:02
First, IRS works to understand the sustainability, stock structure and taxation of business subsidiaries with global presence in the forms of visits and phones. According to a study, Daxie District has 8 businesses going global and among them there are 7 domestic investment bodies with an approved investment of about 12.05 million US dollars. Of all these enterprises, 6 are remainder businesses and 2 have ceased their business operations and have been transferred.
Second, most of those businesses are featured by small scale, relative concentration of investment areas, single service. 6 remainder enterprises have their operations in Hong Kong, Russia, US, New Zealand, among others. Of the 8 enterprises, 5 are traders, 1 service provider and 3 real operators.
Third, IRS seeks to establish information standing book for such businesses, guide them to complete the form of Report on Joint Stock with Foreign Businesses and Report on Controlled Foreign Businesses. Priority is given to two investment bodies under IRS in corporate income tax. A service team is organized to respond to tax-related issues so as to uphold the legit rights and interests and revenue rights and interests of those enterprises.
