The following income can be exempted from enterprise income tax: interest income obtained from loans provided by foreign governments to the government of China; Interest income from preferential loans provided by international financial organizations to the China government and resident enterprises; Other income approved by the State Council.
Extended data
Taxpayers applying for approval of tax reduction or exemption must be the contents of the Enterprise Income Tax Law of the People's Republic of China and its implementing regulations and other laws and regulations and the provisions of the State Council. And submit a written application to the competent tax authorities within the tax reduction or exemption period stipulated by the policy, and submit the following materials:
An application report for tax reduction or exemption, setting out the reasons, basis, scope, duration, quantity and amount of tax reduction or exemption; Financial and accounting statements and tax returns; Certification materials issued by relevant departments; Other information required by the tax authorities.
The materials submitted by taxpayers shall be true, accurate and complete. The tax authorities shall not require taxpayers to submit technical data and other materials unrelated to the tax reduction or exemption items they apply for. Taxpayers can apply to the competent tax authorities for tax reduction or exemption, or they can directly apply to the tax authorities with the right to examine and approve. If the tax reduction or exemption period exceeds 1 tax year, a one-time examination and approval will be conducted.
Baidu encyclopedia-enterprise income tax relief
Baidu Encyclopedia-Regulations for the Implementation of the Enterprise Income Tax Law of the People's Republic of China