Outsourcing firms get tax break
By Pan Xiaoyi |
August 12, 2010, Thursday
|
Print Edition
Print Edition
OFFSHORE service outsourcing companies in 21 cities will be exempted from business tax effective through the end of 2013 as part of China's efforts to boost the offshore outsourcing business.
Revenues from information technology outsourcing (ITO), business process outsourcing (BPO) and knowledge process outsourcing (KPO) are eligible for the policy, effective from July 1. Firms registered in Shanghai, Beijing, Shenzhen, Guangzhou and 17 other cities can enjoy the tax break, the Ministry of Finance said yesterday.
China is one of the world's leading outsourcing markets. The outsourcing market has kept growing despite the fallout from the financial crisis and attracted an increasing number of multinational companies to choose the services in China.
Meanwhile, the government has rolled out a raft of policies to shore up the sector's development this year. This includes a lower threshold to allow more engagement and support listings of such companies to broaden their financing channels.
In the first five months, China's revenue from outsourcing jumped 139 percent to US$5.5 billion, of which US$3.9 billion came from overseas orders, up 106 percent from a year earlier, the Ministry of Commerce said.
Revenues from information technology outsourcing (ITO), business process outsourcing (BPO) and knowledge process outsourcing (KPO) are eligible for the policy, effective from July 1. Firms registered in Shanghai, Beijing, Shenzhen, Guangzhou and 17 other cities can enjoy the tax break, the Ministry of Finance said yesterday.
China is one of the world's leading outsourcing markets. The outsourcing market has kept growing despite the fallout from the financial crisis and attracted an increasing number of multinational companies to choose the services in China.
Meanwhile, the government has rolled out a raft of policies to shore up the sector's development this year. This includes a lower threshold to allow more engagement and support listings of such companies to broaden their financing channels.
In the first five months, China's revenue from outsourcing jumped 139 percent to US$5.5 billion, of which US$3.9 billion came from overseas orders, up 106 percent from a year earlier, the Ministry of Commerce said.
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