Another would repeal the ability of U.S. companies that derive at least 80% of their income from foreign business to treat interest and dividends as exempt from U.S. withholding tax.

另一项内容针对至少80%的收入来自海外业务的美国公司，规定这些公司的股息和红利不得继续免缴美国所得税。

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Article 29 the autonomous organ of an autonomous region of ethnic minorities may determine to reduce or exempt the enterprise income tax by enterprises within the said autonomous region.

第二十九条民族自治地方的自治机关对本民族自治地方的企业应缴纳的企业所得税中属于地方分享的部分，可以决定减征或者免征。

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Lower income tax may not have much effect: Many Chinese people have been exempt from income tax, while others evade tax idea.

下调所得税可能不会有太多效果：许多中国人已经免除了所得税，而其他人则想法逃避纳税。

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Tax expenditures include the inventory of Tax-Exempt Income, Adjustments to Income, Itemized Deductions, and Tax Credits (refundable and nonrefundable).

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Included in the positive adjustment to stock basis is an increase for tax-exempt income realized by the S corporation.

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For example, a taxpayer subject to a top statutory rate of 39.6% would pay an 11.6% tax on tax-exempt income.

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