Other income mentioned in Item (9) of Article 6 of the Enterprise Income Tax Law as mentioned in the Regulations for the Implementation of the Enterprise Income Tax Law of People's Republic of China (PRC) (the State Council Order No.512, 2007) refers to the income obtained by an enterprise other than the income specified in Items (1) to (8) of Article 6 of the Enterprise Income Tax Law, including surplus income of enterprise assets and overdue packaging deposit.

For the write-off of unpaid accounts payable, the current tax law does not require the approval of the tax authorities. We understand that, as the profits of an enterprise, certain procedures must be performed in accordance with the financial system of the unit before they are written off. When writing off, "accounts payable" should be debited and "non-operating income" credited, and sufficient and appropriate evidence should be attached to support the conclusion of writing off.

What bills do bills payable include?

Notes payable refer to commercial bills drawn and accepted by enterprises for purchasing materials, commodities and accepting labor services, including commercial acceptance bills and bank acceptance bills.

1. Commercial acceptance bills are accepted by drawees other than banks. Commercial acceptance bills are issued by the sales enterprises or purchasing enterprises agreed by both parties, but accepted by the purchasing enterprises.

2. Bank acceptance bill is a kind of commercial bill. It is a bill in which a depositor opens a deposit account in an accepting bank, applies to the opening bank, and is examined and accepted by the bank to ensure unconditional payment of a certain amount to the payee or holder on a specified date.

How to write off accounts payable?