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HMRC internal manual

Double Taxation Relief Manual

Guidance by country: China: Underlying Tax

(1) Documents needed to support the underlying tax claim

The accounts of the company for the period in which the profits were earned out of which the dividend was paid and the income tax return showing the final liability to tax will be required by the Underlying Tax Group.

Relevant profits are reduced by transfers of 10% of net profit until the reserve reaches 50% of the company’s registered share capital.

(3) Transfer to funds

Relevant profits are reduced by transfers of 1% of net profit to the Staff Bonus and Welfare Fund and the Enterprise Expansion Fund.