Selected firms in Qianhai get 15% tax rate
Print Edition
DESIGNATED industries operating in Shenzhen’s Qianhai economic zone will receive a preferential corporate tax rate of 15 percent, the city’s taxation bureau said yesterday.
Companies operating in the Qianhai Economic Zone and deriving over 70 percent of their revenue from modern logistics, information services, technology services and cultural industry are entitled for the 15 percent tax benefit, according to the preferential tax directory released by the Shenzhen Local Taxation Bureau. The rate is down from a standard rate of 25 percent.
The tax cut is retroactive to January 1 and valid until the end of 2020, the bureau said on its website.
Qianhai is using the tax incentive to lure Hong Kong companies as the zone bids to deepen economic cooperation with Hong Kong.
The Pingtan Experimental Zone in Fujian Province and the Hengqin area in Zhuhai, Guangdong Province, have also received the tax break.
There were initial hopes that the Shanghai free trade zone would offer a similarly low corporate tax but the zone’s regulator said the focus is on institutional reforms that can be applied nationwide.
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