Circular 698 definition

Circular 698 means the Notice of the State Administration of Taxation on Strengthening the Management of Enterprise Income Tax Collection of Proceeds from Equity Transfers by Non-resident Enterprises, Guoshuihan [2009] No. 698.

Circular 698 means the Circular regarding strengthening the Administration of Enterprise Income Tax on Equity Transfers by Non-Resident Enterprises issued by the State Administration of Taxation of the PRC on 10 December 2009 (Guoshuihan [2009] No. 698), and any amendment, implementing rules, or official interpretation thereof or any replacement, successor or alternative legislation having the same subject matter thereof;

Circular 698 has the meaning set forth in Section 9.12(d).

Examples of Circular 698 in a sentence

• Circular 698 or Bulletin 7 may be determined by the tax authorities to be applicable to the merger where non-PRC resident corporate shareholders or ADS holders were involved, if the merger is determined by the PRC tax authorities to lack reasonable commercial purpose.

• As a result, if PRC tax authorities were to invoke Circular 698 or Bulletin 7 and impose tax on the receipt of consideration for Shares or ADSs, then any gain recognized on the receipt of consideration for such Shares or ADSs pursuant to the merger by the Company’s shareholders who are non-PRC resident enterprises could be treated as PRC-source income and thus be subject to PRC income tax at a rate of 10% (subject to applicable treaty relief).

• Circular 698 or Bulletin 7 may be determined by the tax authorities to be applicable to the merger where non-PRC resident corporate shareholders were involved, if the merger is determined by the PRC tax authorities to lack reasonable commercial purpose.

• As a result, if PRC tax authorities were to invoke Circular 698 or Bulletin 7 and impose tax on the receipt of consideration for Shares, then any gain recognized on the receipt of consideration for such Shares pursuant to the merger by the Company’s shareholders who are non-PRC resident enterprises could be treated as PRC-source income and thus be subject to PRC income tax at a rate of 10% (subject to applicable treaty relief).

• Although Circular 6/98 identifies the possibility that non-RSLs could provide Affordable Housing, the experience of the Council has been that only through provision by RSLs can housing provided as Affordable Housing be retained as such.

More Definitions of Circular 698

Circular 698 means Circular 698 issued by the PRC State Administration of Taxation on December 10, 2009, titled “Notice on Strengthening the Administration of Enterprise Income Tax on Income Derived from Equity Transfer Made by Non-Resident Enterprise” (关于加强非居民企业股权转让所得企业所得税管理的通知), effective as of January 1, 2008, as modified and supplemented by Public Notice No. 7, and any PRC Laws in force from time to time that operate to restate, amend, supplement or repeal any of the aforesaid regulation or any part thereof.

Circular 698 means Circular 698 issued by the PRC State Administration of Taxation on December 10, 2009, titled “Notice on Strengthening the Administration of Enterprise Income Tax on Income Derived from Equity Transfer Made by Non-Resident Enterprise” (关于加强非居民企业股权转让所得企业所得税管理的通知), effective as of January 1, 2008, and any PRC Laws in force from time to time that operate to restate, amend or repeal any of the aforesaid regulation or any part thereof.

Circular 698 shall have the meaning set forth in Section 6.11(a).

Circular 698 means the “Notice on Strengthening the Administration of Enterprise Income Tax on Incomes from Non-resident Enterprises’ Equity Transfers, Guo Xxxx Xxx [2009] No. 698” promulgated on December 10, 2009 by the State Administration of Taxation of the People’s Republic of China.

Circular 698 means the Notice of the Ministry of Finance and the State Administration of Taxation Regarding Several Issues on Corporate Income Tax Treatment for Corporate Reorganization (《财政部、国家税务总局关于企业重组业务企业所得税处理若干问题的通知》) issued on April 30, 2009.

Circular 698 has the meaning set forth in Paragraph ‎1.4 of this Schedule 6.01;

Circular 698 means the Notice of the State Administration of Taxation on Strengthening the Administration of Enterprise Income Tax on Non-resident Enterprises’ Equity Transfer Income (国家税务总局关于加强非居民企业股权转让所得企业所得税管理的通知).