Unified corporate tax scheme expected to pass

时间：2007-03-02 01:41:51

（单词翻译:单击）


An undated photo shows a woman before a big Chinese character "Shui", or Tax. After being pigeonholed1 for ten years, the unified2 corporate3 tax will be handed over for discussion at the upcoming fifth session of the National People’s Congress that will be held in March. (File photo)
 
Chinanews, Beijing, March 1 - After being pigeonholed for ten years, the unified corporate tax will be handed over for discussion at the upcoming fifth session of the National People's Congress that will be held in March. Most insiders say the new tax scheme will be approved almost for sure, which shows that Chinese economic system will become mature and regulated in a more organized way.

 

Since the opening-up, China has offered “super national treatment” to foreign companies by letting them enjoy preferential tax policies in order to attract more foreign investment. The nominal4 tax rate for foreign companies that make investment in China is 15%. However, the actual tax rate for these foreign companies is 11%, far below the 33% tax rate specified5 in related laws and regulations. Analysts6 say that due to the Asian financial crisis, China postponed7 the reform of the tax rate scheme until last year when it was put on the agenda.

 

Under the new tax scheme, both domestic and foreign companies in China will pay a unified corporate tax rate of 25%.

 

According to Chinese legislative8 process, if the new tax scheme is adopted, it will start to take effect on January 1, 2008. According to Jin Renqing, Chinese Finance Minister, the implementation9 of the new tax scheme shows that Chinese economic system will become mature and more organized.

 

The unified corporate tax shows that China is making big changes to its foreign investment policies, analysts said.

 

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1 pigeonholed 35ddc4a05870d634b45c6d392d733094     
v.把…搁在分类架上( pigeonhole的过去式和过去分词 )；把…留在记忆中；缓办；把…隔成小格
参考例句：
  • This document was pigeonholed for quite some time. 这份公文压了不少时间。 来自《现代汉英综合大词典》
  • The scheme has been pigeonholed. 这个方案被压下来了。 来自辞典例句
2 unified 40b03ccf3c2da88cc503272d1de3441c     
(unify 的过去式和过去分词)； 统一的； 统一标准的； 一元化的
参考例句：
  • The teacher unified the answer of her pupil with hers. 老师核对了学生的答案。
  • The First Emperor of Qin unified China in 221 B.C. 秦始皇于公元前221年统一中国。
3 corporate 7olzl     
adj.共同的，全体的；公司的，企业的
参考例句：
  • This is our corporate responsibility.这是我们共同的责任。
  • His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。
4 nominal Y0Tyt     
adj.名义上的；(金额、租金)微不足道的
参考例句：
  • The king was only the nominal head of the state. 国王只是这个国家名义上的元首。
  • The charge of the box lunch was nominal.午餐盒饭收费很少。
5 specified ZhezwZ     
adj.特定的
参考例句：
  • The architect specified oak for the wood trim. 那位建筑师指定用橡木做木饰条。
  • It is generated by some specified means. 这是由某些未加说明的方法产生的。
6 analysts 167ff30c5034ca70abe2d60a6e760448     
分析家，化验员( analyst的名词复数 )
参考例句：
  • City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
  • I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。
7 postponed 9dc016075e0da542aaa70e9f01bf4ab1     
vt.& vi.延期，缓办，（使）延迟vt.把…放在次要地位；[语]把…放在后面（或句尾）vi.（疟疾等）延缓发作（或复发）
参考例句：
  • The trial was postponed indefinitely. 审讯无限期延迟。
  • The game has already been postponed three times. 这场比赛已经三度延期了。
8 legislative K9hzG     
n.立法机构，立法权；adj.立法的，有立法权的
参考例句：
  • Congress is the legislative branch of the U.S. government.国会是美国政府的立法部门。
  • Today's hearing was just the first step in the legislative process.今天的听证会只是展开立法程序的第一步。
9 implementation 2awxV     
n.实施，贯彻
参考例句：
  • Implementation of the program is now well underway.这一项目的实施现在行情看好。

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