Article 1 These Regulations are formulated for the purpose of further implementing the state industrial policy，controlling the scale of investment，providing guidance to the orientation of investment，improving the structure of investment，giving greater focus on major construction projects and maintaining a sustainable，stable and proportionate development of the national economy.
　　Article 2 An institution or individual making investment in fixed assets within the territory of the People's Republic of China shall be a payer of the Fixed Asset Investment Orientation Regulatory Tax（hereinafter referred to as the "taxpayer" of "the Regulatory Tax"）and shall pay the Regulatory Tax in accordance with these Regulations.
　　Article 3 Differential rates shall be applied to the Regulatory Tax in accordance with the state industrial policy and in light of the scale of the project. Different tax rates shall be fixed for different investment projects of fixed assets. The tax items and rates shall be implemented in accordance with the "Table of Tax Items and Tax Rates of Fixed Asset Investment Orientation Regulatory Tax" in the Appendix to these Regulations.
　　A 15% rate shall be applied to those investments in fixed assets not itemized in the Table of Tax Items and Tax Rates（excluding investments in technical updating and transformation projects）。
　　A 10% rate shall be applied to investment projects of technical updating and transformation other than those listed in the Table accessible to 0% rate.
　　The "Table of Tax Items and Tax Rates of the Fixed Asset Investment Orientation Regulatory Tax" shall be subject to readjustment from time to time by the State Council.
　　Article 4 Assessment of Regulatory Tax shall be based on the actual amount of investment completed in a fixed asset investment project，where the investment in technical updating and transformation shall be the actually completed investment in a construction project.
　　Article 5 Regulatory Tax shall be paid in advance on the basis of the annual plan for investment in a unit project of a fixed asset investment project. After the year-end settlement of the actual investment made，the portion of the advance payment in excess shall be refunded and the shortage shall be made up by supplementary payment. On completion of the project，the tax payable shall be finally settled on the total investment made in the whole project，with the excess refunded and shortage made up by supplementary payment.
　　In case a taxpayer has difficulty in clearing tax payment of the year by one payment according to the annual plan for the progress of the project，tax may be paid by installments up to the end of September of the year upon approval by the tax authorities.
　　Article 6 A taxpayer，in filing for approval a fixed asset investment project，shall set aside a sufficient sum for the payment of the Regulatory Tax thereon and include it in the total investment thereof for the economic and financial appraisal thereof. But the arrangement for the payment of the tax shall not be included in the base comprising the designing，construction and other expenses.
　　Article 7 No exemption or reduction of the Regulatory Tax shall be allowed，unless otherwise stipulated by the State Council.
　　Article 8 The taxation departments shall be responsible for the collection and administration of the Regulatory Tax. A taxpayer shall register with，accept tax payment examination and file tax returns to the local tax authorities where the investment project is located.
　　Article 9 The collection of the Regulatory Tax shall be subject to a tax source control system that combines unified planning control with investment licensing.
　　1. The plans for the fixed asset investments shall be first collected by the planning committees（or economic and planning committee）of the local provinces，autonomous regions or municipality listed as independent unit in the state plans and then examined for applicable tax items，tax rates and tax amounts by the tax authorities of the same level and finally announced by the planning departments.
　　2. Prior to making the annual investment in a project，the taxpayer shall register with the local tax authorities and file tax returns. The relevant bank or other financial institution shall transfer the payment for the tax payable on the special pay-in warrant issued by the tax authorities.
　　3. The planning department shall issue investment permit on the tax payment invoices. The bank or other financial institutions shall arrange allocations or loans for the fixed asset investment in accordance with the investment permit.
　　Article 10 Payment of the Regulatory Tax shall be withheld for the state by the Construction Bank，the Industrial and Commercial Bank of China，the Agricultural Bank of China，the Bank of China，the China Communications Bank and other banking institutions or other relevant institutions.
　　Article 11 As for fixed asset investment projects unlisted in the state plans，the tax authorities shall fix an applicable tax rate and impose a fine five times the tax payable on the taxpayer. Nevertheless，those fixed asset investment projects unlisted in the state plans but accessible to 0% tax rate shall be dealt with by the planning departments in accordance with the relevant regulations.
　　As for an investment in a capital construction project under the pretext of technical updating and transformation，a tax payable at twice the applicable tax rate to a tax item for capital construction investment shall be levied. In the case of investment projects accessible to 0% tax rate，however，the case shall be dealt with separately by the government planning department in accordance with the relevant regulations.
　　Article 12 In case a taxpayer fails to pay tax parable in accordance with the provisions of these Regulations，the government planning committee（or economic and planning committee）shall cancel the listing in the state plan of the scheduled project，stop the commencement of the new project，annul the annual investment plan for a continued project and revoke the investment permit；and banks and other financial institutions shall not arrange loans or allocations for it.
　　In the case of the planning authorities and banking institutions violating the provisions of these Regulations thus leading to tax evasion on the part of the taxpayer，the higher authorities thereof shall investigate into the responsibilities of the personnel involved therein.
　　Article 13 Other matters related to the collection and administration of the Regulatory Tax shall be carried out in accordance with the provisions of the "Provisional regulations of the People's Republic of China on the Administration of Tax Collection".
　　Article 14 These Regulations shall be inapplicable to fixed asset investments made by Chinese-foreign equity joint ventures，Chinese-foreign cooperative enterprises and foreign enterprises.
　　These Regulations shall be inapplicable to those development investment projects prohibited by the State. The state planning department shall deal with them separately in accordance with the relevant laws，decrees，principles and policies of the country.
　　The "Table of the Development Investment Projects Prohibited by the State" shall be subject to readjustment by the State Council form time to time.
　　Article 15 Preferential treatment to the regions of national autonomy with regard to the Regulatory Tax shall be formulated separately.
　　Exemption or reduction of the Regulatory Tax on fixed asset investment projects of less than 50，000 yuan which are not under the control of state plans in accordance with State regulations shall be determined by the people's governments of provinces，autonomous regions and municipalities directly under the State Council.
　　Article 16 Permits of fixed asset investment projects shall be issued and controlled exclusively by the state planning departments and the rules for control of the permits for fixed asset investment projects shall be formulated by the State Planning Commission.
　　Article 17 The State Administration of Taxation shall be responsible for the interpretation of these Regulations and formulate the rules for the implementation thereof.
　　Article 18 These Regulations shall come into force as from the year 1991. The "Provisional regulations on Construction Tax of the People's Republic of China" promulgated by the State Council on June 25，1987 shall be abrogated therefrom.