Favorable taxes
Source: Xinhua |
May 4, 2012, Friday
|
Print Edition
Print Edition
CHINA has unveiled preferential tax policies for software and integrated circuit firms to spur technological innovation and industrial upgrading, a government statement said yesterday.
Backdated to January 1, 2011 and effective until December 31, 2017, firms that make IC lines thinner than 0.8 microns will be approved for two-year corporate tax exemptions once they make a profit. They will then be taxed only half of their corporate income for another three years. China's corporate income tax rate is 25 percent.
The companies producing IC lines thinner than 0.25 microns or with investment exceeding 8 billion yuan (US$1.27 billion) will be taxed a discounted rate of 15 percent.
Backdated to January 1, 2011 and effective until December 31, 2017, firms that make IC lines thinner than 0.8 microns will be approved for two-year corporate tax exemptions once they make a profit. They will then be taxed only half of their corporate income for another three years. China's corporate income tax rate is 25 percent.
The companies producing IC lines thinner than 0.25 microns or with investment exceeding 8 billion yuan (US$1.27 billion) will be taxed a discounted rate of 15 percent.
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