欢迎扫描下方二维码关注： 财政部、税务总局、商务部联合发布了 《关于境外投资者以分配利润直接投资税收抵免政策的公告》 (财政部 税务总局 商 务部公告2025年第2号），国家税务总局随后出台了 《国家税务总局关于境外投资者以分配利润直接投资税收抵免政策有关事项 的公告》 （国家税务总局公告2025年第18号）。为帮助广大境外投资者清晰、准确掌握政策要点，今天我们为大家全面梳理、 通俗解读。 与递延纳税政策的关系 基本规定 一 再投资抵免政策 是在递延纳税政策基础上，对境外投资者在2025至2028年期间以境内分配利润新增的 有效投资给予阶段性税收 优惠 。再投资抵免政策不影响递延纳税政策的效力，递延纳税政策相关文件继续适用。境外投资者享受税收抵免政策的，仍可享受递 延纳税政策。 境外投资者以中国境内居民企业分配的利润，在 2025年1月1日至2028年12月31日 期间用于境内直接投资符合条件的，可按照 投 资额的10% 抵免境外投资者当年的应纳税额，当年不足抵免的准予向以后结转。 中华人民共和国政府同外国政府订立的税收协定中关于股息、红利等权益性投资收益适用税率 低于10% 的，按照 协定税率 执 行。 境 ...

审核：郭晓瑾、詹凌峰 近期，我市旺旺食品有限公司获得由江苏省商务厅核发的《利润再投资情况表》，成为自2025年境外投资者以分配利润直接投资税收抵免政策实施以来， 淮安首家获此凭证的企业。预计本次企业可获约355万元税收抵免额度，抵免范围包括外国投资者从旺旺食品取得的股息红利、利息和特许权使用费等。 审签：周 菲 撰稿：局外资处 外资企业利润再投资税收抵免政策由财政部、国家税务总局和商务部联合发布，明确在2025年1月1日至2028年12月31日期间，符合条件的境外投资者可按 照投资额的10%抵免境外投资者当年的应纳税额，当年不足抵免的准予向以后结转。税收抵免优惠需要满足三方面条件:一是利润再投时间为2025年1月1 日以来至2028年末；二是被投资企业从事的产业属于《鼓励外商投资产业目录》所列的全国鼓励外商投资产业目录；三是境内再投资需持续5年（60个 月）以上，享受优惠后如在5年内收回投资，需补缴抵免的税款。 ...

本报讯（记者 孙云柯）近日，昌平区企业北京中软国际信息技术有限公司成功通过境外投资者利润再 投资税收抵免审核，成为本市首家享受该政策的企业。新政"首单"在昌平落地，不仅为企业发展注入了 动能，也为昌平区优化营商环境、吸引外资企业再投资提供了实践经验。 利润再投资，即境外投资者将在中国境内居民企业分配的利润不汇出境外，转而留在中国境内再行投 资。今年6月底，财政部、国家税务总局、商务部联合印发《关于境外投资者以分配利润直接投资税收 抵免政策的公告》，境外投资者以中国境内居民企业分配的利润，在2025年1月1日至2028年12月31日期 间用于境内直接投资符合条件的，可按照投资额的10%抵免境外投资者当年的应纳税额，当年不足抵免 的准予向以后结转。 北京中软国际信息技术有限公司相关负责人表示，昌平区不断加大对高新技术产业的扶持力度，为企业 提供了良好的发展环境。本次申报利润再投资税收抵免，得到了市商务局和昌平区商务局专业、细致且 高效的指导与帮助。这充分体现了政府部门务实、高效、为民服务的优良作风，也让企业对在昌平区深 耕发展充满了信心。 为推动政策快速落地，昌平区商务局组建专项服务团队，全程指导企业梳理材料、规 ...

Core Viewpoint - The article discusses a new tax credit policy for foreign investors in China, effective from January 1, 2025, to December 31, 2028, aimed at stabilizing foreign investment and encouraging reinvestment of profits [1]. Policy Highlights - The new policy allows foreign investors to offset 10% of their taxable income against the amount invested in direct investments in China from profits distributed by Chinese resident enterprises during the specified period [2][3]. - The policy emphasizes that the profits must come from actual distributions, such as dividends, and not from retained earnings [2]. Core Conditions - **Profit Source**: Profits must be derived from actual distributions of retained earnings from Chinese resident enterprises [2]. - **Investment Method**: Investments must be direct, including capital increases, establishment of new resident enterprises, or acquisition of equity from non-related parties [3]. - **Investment Industry**: The invested enterprises must belong to the encouraged categories listed in the "Encouraged Foreign Investment Industry Directory" [5]. - **Holding Period**: Foreign investors must hold their reinvested assets for at least 5 years (60 months) [7]. - **Direct Fund Flow**: Profits used for direct investment must be transferred directly without intermediary accounts [8]. Comparison of New and Old Policies - The new policy introduces a tax credit in addition to deferred tax benefits, allowing for a 10% tax offset based on the investment amount [10]. - The scope of eligible investments is narrowed to only those in encouraged industries, unlike the previous policy which allowed broader investment options [10]. - A mandatory 5-year holding period is introduced, with penalties for early withdrawal affecting tax credits [10]. Additional Notes - Foreign investors can apply for retroactive tax credits for eligible investments made between January 1, 2025, and the announcement date of the policy [11]. - The taxable amount that can be offset includes dividends, interest, and royalties received after the reinvestment date [11].

Core Viewpoint - Countries worldwide are implementing measures to attract foreign direct investment (FDI) to boost economic development, with China continuously optimizing its business environment to encourage reinvestment of overseas capital [1] Group 1: Policy Developments - In June 2025, the Ministry of Finance, State Administration of Taxation, and Ministry of Commerce jointly issued the "Announcement on Tax Credit Policy for Foreign Investors Directly Investing with Distributed Profits" (Announcement No. 2 of 2025), effective from January 1, 2025, to December 31, 2028 [2] - The new tax credit mechanism allows foreign investors to receive a 10% tax credit on the amount reinvested from profits distributed by Chinese resident enterprises, applicable to their corporate income tax [2][4] - The 2025 tax credit policy is an upgrade from the previous deferred tax policy, allowing for both deferred tax and current tax credit, thus providing a more direct incentive for reinvestment [6] Group 2: Eligibility Criteria - To qualify for the tax credit, foreign investors must meet five specific conditions, including using actual distributed profits for reinvestment, investing directly in eligible projects, and holding the investment for at least five years [2][4][11] - The investment must be directed towards industries listed in the "Encouraged Foreign Investment Industry Directory," reflecting a shift towards promoting high-tech and advanced manufacturing sectors [9][8] Group 3: Implementation and Practical Considerations - The tax credit can only offset taxes on income derived from the reinvested profits, such as dividends and royalties, and does not apply to capital gains [17] - The policy allows for carryover of unused tax credits to future years, enhancing the financial flexibility for foreign investors [15] - There are practical concerns regarding the calculation of tax credits in cases of early withdrawal of investments and the implications of changes in industry classification on tax credit eligibility [16][17] Group 4: Historical Context and Comparison - The 2018 deferred tax policy allowed foreign investors to defer tax on reinvested profits without a specific expiration date, while the 2025 tax credit policy introduces a defined timeframe for evaluation and adjustment [13][12] - The 2025 policy reflects a tightening of eligibility criteria compared to the 2018 policy, focusing on encouraging investment in priority sectors rather than a broader range of industries [8][9] Group 5: Future Outlook - The introduction of the tax credit policy signals China's commitment to enhancing the attractiveness of its market for foreign investment, particularly in strategic sectors [17] - Companies are encouraged to assess their eligibility and investment strategies in light of the new policy to maximize the benefits of reduced tax burdens and improved capital efficiency [17]

Core Points - The announcement from the Ministry of Finance, State Taxation Administration, and Ministry of Commerce introduces a tax credit policy for foreign investors using profits distributed by Chinese resident enterprises for direct investment in China from January 1, 2025, to December 31, 2028, allowing a 10% credit against their taxable income [1][2] - The policy specifies that eligible profits must be actual distributions of retained earnings, and the investments can include capital increases, new projects, and equity acquisitions, but exclude certain stock purchases [1] Summary by Sections - **Tax Credit Eligibility**: Foreign investors can receive a tax credit of 10% on the amount invested in eligible direct investments, with the ability to carry forward any unused credits to future years [1] - **Conditions for Investment Recovery**: If foreign investors withdraw their investments after 5 years, they must report and pay deferred taxes within 7 days, while investments withdrawn before 5 years will reduce the available tax credit [2] - **Continuation of Benefits**: Any remaining tax credit balance after December 31, 2028, can still be utilized until fully exhausted, and investments made before the announcement can apply for retroactive credits [2]