Tax exemption to benefit more firms in service sectors
By Feng Jianmin |
December 7, 2012, Friday
|
Print Edition
Print Edition
MORE industries will benefit from tax exemption in a value-added tax trial program as part of government efforts to further support the development of China's service sector, the Ministry of Finance said yesterday.
Chinese movie companies involved in the program are exempted from paying VAT for transferring film copyright from December 1 to the end of 2013, the ministry said in a statement.
Transport companies that serves the Chinese mainland and Hong Kong, Taiwan, and Macau are applied a zero rate effective from December 1, the statement said.
The ministry also specified taxation methods for a range of services which were previously under a vague category of "modern services."
"The statement eliminated the uncertainties of previous policies," said Robert Li, a partner of PricewaterhouseCoopers. "Film industries, cross-border transport companies and ship agents will especially benefit from the clarification."
Shanghai, Beijing, Tianjin and provinces of Jiangsu, Anhui, Fujian, Guangdong, Zhejiang and Hubei are carrying out the tax-cutting program on a trial basis. Shanghai replaced a business tax with a VAT for transport and some service sectors on January 1 this year in an effort to cut the overall tax burden for the service industries.
The program will likely extend to cover telecommunications, rail transport as well as construction and installation industries in 2013, the finance ministry said earlier.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
