Regulations on Taxes

In order to unify taxes, develop a fair taxation system and improve the investment environment, China has made some modifications concerning the taxation of foreign-funded and foreign enterprises. In addition to the Provisional Regulations of the People's Republic of China on Value-added Tax, Provisional Regulations of the People's Republic of China on Consumption Tax, Provisional Regulations of the People's Republic of China on Business Tax, and Income Tax Law of the People's Republic of China for Enterprises with Foreign Investment and Foreign Enterprises, the following regulations are applicable to foreign-funded and foreign enterprises.

1. Revision of Provisional Regulations of the People's Republic of China on Urban Land Use Tax promulgated by the State Council on December 23,2006;

2. Provisional Regulations on Vehicle and Vessel Tax promulgated by the State Council on December 27, 2006;

3. Provisional Regulations of the People's Republic of China on Land Value-added Tax promulgated by the State Council on December 13,1993;

4. Provisional Regulations of the People's Republic of China on Resource Tax promulgated by the State Council on December 25, 1993;

5. Provisional Regulations of the People's Republic of China on Stamp Duty promulgated by the State Council on August 6, 1988;

6. Provisional Regulations on Urban Real Estate Tax promulgated by the State Council on August 8,1951;

7. Provisional Regulations on Deed Tax promulgated by the Government Administration Council on April 3, 1950.