Shenzhen Qianhai Area Extends the 15% CIT Rate Until the End of 2025 - V2

Shenzhen Qianhai Area Extends the 15% CIT Rate Until the End of 2025 – V2

Corporate income tax (CIT) is a kind of income tax levied on the income from production and operation and other income gained by companies within the territory of China.

According to the new Income Tax Law of the People’s Republic of China, published in 2008, the general corporate income tax rate is 25%. The preferential corporate income tax policy of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone in Shenzhen will be extended for another five years, and the corporate income tax will be levied at a reduced rate of 15%. Only qualified enterprises within the area can enjoy the preferential corporate income tax policy.

According to the new Income Tax Law of the People’s Republic of China, published in 2008, the general corporate income tax rate is 25%. The preferential corporate income tax policy of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone in Shenzhen will be extended for another five years, and the corporate income tax will be levied at a reduced rate of 15%. Only qualified enterprises within the area can enjoy the preferential corporate income tax policy.

According to the new Income Tax Law of the People’s Republic of China, published in 2008, the general corporate income tax rate is 25%. The preferential corporate income tax policy of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone in Shenzhen will be extended for another five years, and the corporate income tax will be levied at a reduced rate of 15%. Only qualified enterprises within the area can enjoy the preferential corporate income tax policy.

After implementation of the extended policy, nearly 12,000 new enterprises are expected to be benefited, and the exemption will increase by nearly RMB 500 million.

This policy attracts relevant enterprises to put more effort into the specified industries listed in the Catalogue of CIT Preferences. On the one side, the policy encourages the enterprises located in the area to enlarge, improve and innovate. On the other side, the policy gives China’s enterprises a signal that the country encourages development in the 5 categories. To conclude, the policy push and orient the development of companies in China and expect to have a large return.

If you are not sure whether your company is eligible to engage in the policy, please check the following website.

http://qh.sz.gov.cn/sygnan/qhzx/tzgg/content/post_8927322.html

If you need more information about registering a business in China, call 561-729-6508 or email [email protected] for a free consultation.

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