China´s parliament adopts enterprise income tax law

Source: Xinhuanet | 03-16-2007 10:23

BEIJING, March 16 (Xinhua) -- China's parliament, the National People's Congress, adopted the enterprise income tax law Friday morning with 2,826 votes for and 37 against, and 22 abstentions, a key signal of a phase-in end of superior treatments to foreign investors for two decades.

The 60-article law was ratified by the lawmakers as they concluded their 11.5-day annual full session at the Great Hall of the People in downtown Beijing.

The voting result, announced by NPC Standing Committee Chairman Wu Bangguo, was warmly applauded by lawmakers. The law is due to take effect on Jan. 1, 2008.

Editor:Du Xiaodan