Ｇｏｏｄ ｏｒ Ｂａｄ，Ｕｎｉｆｉｅｄ ＣＩＴ Ｌａｗ Ａｒｒｉｖｅｄ

A seven-year long march

Ever since the beginning of the economic reforms in the late 1970s and early1980s， China has had a dual taxing system， one for domestic companies， and the other for foreign enterprises. The Interim Corporate Tax Measures of the People's Republic of China (\"Domestic Corporate Tax Law\") governs the taxing of all Chinese companies， withholding a nominal tax of about 33%; while the Foreign Invested Corporation and Foreign Corporation Tax Law (\"Foreign Corporate Tax Law\") applies to all for-eign corporations， enjoying a tax rate of about 15%.