EITL

AcronymDefinition
EITLEnterprise Income Tax Law (National People's Congress; China)
EITLEthernet in the Loop
Copyright 1988-2018 AcronymFinder.com, All rights reserved.
References in periodicals archive ?
Established in 2000, EITL is a wholly-owned subsidiary of eSys Dubai.
China's new tax rate under the EITL is 25%, which is higher than the 15%-24% rate many foreign-owned enterprises positioned in allotted foreign investment zones currently receive, but it is lower than the 33% rate currently applied to domestic-owned enterprises.
Mitigation of tax rate increase: High-tech businesses that promote technological development are eligible for a preferential tax rate of 15% under the EITL. What "technological development" is subject to the 15% preferential tax rate, however, is not clearly defined.
For foreign-owned enterprises that have taken advantage of the 2+3 tax holiday, the EITL allows them to be grandfathered under the current rules and continue to benefit from the tax incentives for the remaining period.
Instead, it will have to follow the regular income tax rates under the EITL, without reduction.