porno Chinese Law | China: What are the procedures regarding income management?
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What are the procedures regarding income management?

In general, business income is realised under one of the following circumstances: product or merchandise delivered, project completed, service or manual labour provided, payable fees received, and the right to collect payment secured.

In the case of a cooperative JV using product sharing as the income distribution method, the investors are considered to have realised their income when they have received their share of the products. The amount of such income is calculated as per the sale price of the products sold to a third party or as per the prevailing market price.

Except otherwise stated in the contract or articles of association, the sale price of an enterprise's export products (or merchandise) should be ascertained by adding reasonable charges and profit margins to the costs if such products(or merchandise) are not directly sold be the enterprise.

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