CHINA / Policies
Preferential policies in Zhanjiang City
(sme.gov.cn)
Updated: 2006-05-15 10:55
Corporate income tax
1. Manufacturing businesses involving foreign investment in the Zone may
pay corporate income tax at a reduced tax rate of 15%.
2. Manufacturing businesses involving foreign investment with an
operation tenure of over 10 years enjoy 2 years of corporate income tax
exemption from the first profit-making year and half reduct-ion for the
ensuing 3 years.
3. Sino-foreign businesses engaged in the construction and development of
port and dock with an operation tenure of over 15 years enjoy 5 years of
corporate income tax exemption from the first profit-making year and half
reduction for the ensuing 5 years.
4. When applied by the enterprise and approved by relevant tax
authorities in the State Council, foreign-invested enterprise engaged in
agriculture, forestry, or animal husbandry whose preferential policy of
corporate tax expires may pay corporate income tax at the rates of 70-85%
of due tax in the ensuing 10 years.
5. Export-oriented enterprises involving foreign investment whose annual
export value is over 70% of the gross value of production in the same
year when its preferential policy of corporate income tax according to
relevant national regulations expires may pay corporate income tax at a
reduced rate of 10%.
6. Technology advanced company involving foreign investment that is
stilled rated as company of advanced technology when its preferential
policy in corporate income tax expires may pay corpo-rate income tax half
reduction for additional 3 years. If the rate of corporate income tax is
below 10% according to this policy, such enterprise shall pay the tax at
a rate of 10%.
7. With the foreign party of the foreign-invested enterprise in the Zone
uses its profits for reinves-tment and to increase its registered capital
or use it as capital to establish other foreign -investment enterprises
in the Zone for at least 5 years, when approved, it can get back 40% of
the corporate income tax levied on the amount added. Total refund is
applied to cases of direct investment for setting up or expanding export
businesses or technology-advanced companies.
Customs tax and VAT
1. Except that those articles being in the list of non-exemption taxes
goods, foreign investment pro-jects shall be exempted form import duty
and value-added tax lining in the import when importing self-used
equipment within the total investment.
2. Except that those articles being in the list of non-exemption taxes
goods of domestic investment project, domestic investment whose project
being in the list of industries, products and technologies encouraged by
the state shall be exempted from import duty and value added tax linking
in import when importing self-used equipment within the total investment
3. From September 1, 1999, when the foreign-invested enterprises that is
belong to encouraging category and limitation B categories or whose
project is in the list of industries, products and tec-hnologies
encouraged by the state procures equipment made in China within the total
investments, it shall be refunded the total VAT of the said equipment.
4. Hi-tech enterprise that wants to import raw material and spares for
manufacturing hi-tech goods to overseas market shall no need to deal with
import permission license. Except those limited by the state or with
other regulations, hi-tech enterprises shall be exempted form export duty
when exporting.
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