Dec. 2 – The State Administration of Taxation is requiring companies to revise their enterprise income tax filing cycle for 2008 to reflect tax circulars issued after May 31, 2009.

This may lead to changes in taxes filed for the 2008 annual EIT return forms. The deadline for filing the changes is set before the end of this month with no surcharge and penalties for the amendments.

The newest requirement stems from the 10 tax circulars issued by the Ministry of Finance and the SAT that includes three that are of general application to all taxpayers, four that concern EIT treatments of financial institutions and the rest of circulars for specific industries.

For guidance on the next steps for filing your revised EIT payments, contact Sabrina Zhang, the national tax partner for Dezan Shira & Associates at tax@dezshira.com.