This article reviews the major elements of the enterprise income tax (EIT) system in China and examines the dynamic relationship between international norms and the local Chinese context. After some introductory remarks, the article discusses the fundamental principles, concepts and structural elements of the EIT system and examines its main transformative aspects in terms of form, process and substantive provisions. The article also considers the extent to which international tax norms, China’s policy concerns and traditional issues play a role in the new system. The article concludes with some observations on international tax norms.