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PREFERENTIAL OF POLICIES 1. Besides the two-year income tax exemption and three-year half tax exemptio since the profit-making year, the foreign investment manufactures which runs ov er ten years can enjoy the following taxation preference:1. The financial department will reimburse the income tax kept by the local gove rnment to the manufacture from the third to the fifth year since the profit-mak ing year. Besides this, the major municipal foreign investment enterprises engaged in the backbone and priority indus-tries with exceeding a total invest volume of 10 mi llion US dollars will be reimbursed fifty percent of the in-come tax kept by th e local government from the sixth to the tenth year of operation. With approval, the above-mentioned enterprises' fixed asset are allowed to be c alculated by speeding-up depreciation. 2. The foreign invertment enterprises recognized as the Hi-tech enterprises enj oy the prefernce stipulated in the first article, the adopt the following tax ra te as well: The income tax rate is fixed at 15% when the tax-ex-emption period expires; The income tax rate is fixed at 10% when products for export make up more than 7 0% of the output value. 3. The foreign investment manufactures approved to be established after April 1s t, 1996 with more than 5 mil-lion US dollars (5 million US dollars included) re gistered capital or with an increasing capital volume of 3 million US dollars (3 million US dollars included) or recognized as the Hi-tech enterprises by the r elevant provincial departments, with an operation period of more than ten years (the operation period should last no less than 5 years after the new capital inj ection). Upon the comple-tion of actual capital injection, the custom tariff an d im-port value-added tax which enterprises have to par for the import of the self-use machinery within the invest-ment volume can the refunded to the enter prises from the value-added tax paid during the operation period and the income tax kept by the local government year by year through the confirmation. 4. To encourage the foreign investment enterprises to in-crease investment and expand investors increase investments and registered capitals, the added factual capital can enjoy profit level, through the approval of the taxation administra -tion the added profit can be rated separately and enjoy the income tax exempti on and be refunded by the finalcial de-prises profit into the enterprises, or u se the profit to expand the registered capital, or to initiate other foreign inv estment sectors, with an operation period of no less than 5 years, 40% of the in come tax based on the re-investment will re-funded at the approval of the taxa tion administration in ac-cordance with the state regulations, the local financ ial ed-partment will reimburse another 30% as well. Upon the approval of taxation authorities, for those who are directly initiated by the reinvestment enterprises, the ex-panded export-oriented manufactures, t he advanced techno-logical enterprises, the income tax kept by the locality can be fully reimbursed. 5. Whichever foreign-invested enterprise has not involved with the quota-licen se management and self-balancing for foreign currency, it has no domestic marke t limitation. 6. Upon the application from a Chinses venturer of a foreign investment manufacturer, and the approval of the financial department, the inves tment of the Chinese Joint venturer own real-estate can exempted from the real setate contract tax in line with the urbanization designing program. 7. When foreign investment enterprises acquire the favorable land price by means of purchasing. The standard will be set the minimum level of the general price of that year. If the land is obtained through the administrative way, the land u sing fee (including the development cost) can be set at minimum level. For undev eloped mountain, uncultivated land, undeveloped beach, the preference will be mo re sig-nificant according to the circumstance. 8. The foreign investment manufacturing projects stimulated by the government ca n be exempted from land use fee (land development cist excluded) within 5 years upon the application of the enterprises and the land management au-thority cons ent. ¢ņ. Foreign investment comprehensive development projects in the fields of agric ulture, forestry, husbandry, fishery and supplementary production can enjoy the following freference and preference stimulated in ”¶Fu-jian Interim Regulation on Encouraging Foreign-invest-ed Agricultural Development Project”· as well: 1. Foreign investment comprehensive development agricultural projects which hae run for more than 10 years can be re-funded by the financial department. 50% of the income tax kept by the locality from the sixth year to the tenth year. 2. Foreign investment development agricultural projects based on domestically-s elling products can be refund by the fi-nancial department 40% of the income ta x kept by the locality. 3. Foreign investment development agricultural projects rec-ognized as Hi-tech projects can be exempted from land tax-ation through approval by means of leasing 4. Foreign in-vestment development agricultural projects land use fee can b e handed in according to 3-5% of the turnover. The un-developed mountain, the uncultivated land, the undeveloped beach can get higher preference on this basic standard. 5. All the favorable policies for the foreign-invested manu-factures can be ap plicable for the foreign-invested manu-factures can be applicable to the agric ulture development projects. ¢ó. The foreign-initiated infra-structure projects (in-cluding port, dock, tr ansportation and energy construc-tion) which have run for more than fifteen yea rs en-joy the following preference: 1. The foreign investment enterprises engaged in port, dock, transportation and energy construction with an investment volume of more than 30 million US dollars can obtain an income tax rate as 15% t hrough approval. The for-eign investment enterprises engaged in port dock con- struction can be exempted from income tax for the first 5 years since the profit -making year; 50% for the next 5 years. 2. After the completion of 20% investment volume projec-tion, through approval, the infra-sturcture projects are al-lowed to establish the vessels, vehicles, warehouse, load-ing and unloading, tourism, real estate, shipping agency and o ther service sectors in accordance with the infras-tructure construction. 3. The foreign investment infrastructure projects (attached business excluded) w ith an agreed foreign investment of more than 5 million US dollars and a quite l ong input-return period can take advantage of overseas marketing channels throu gh approval and export the produce be-yond the state macro-controlled and the quota-license management for export as comprehensive compensation. 4. The tax standard will be set the minimum level for the infrastructure project s which obtain the land useright by means of the administrative way. The prefere nce will be more for the investment on the undeveloped mountain, uncultivated la nd, undeveloped beach. 5. All the favorable policies for the foreign-invested manufactures can be appl icable to the infrastructure pro-jects. ¢ō. The foreign investment joined-area land ex-ploitation projects approved by the Provincial government enjoy the following preference: 1. The foreign investment enterprises engaged in the large-area development pro jects can be deemed as the manufacture on the respect of levying on the tax rate and other favorable policies. The developing sectors with a operation period of more than 10 years can be exem pted from income tax since the profit-making yeaer, 50% for the next three year s. The income tax of the infras-tructure facilities and the standard factories will be levied on ac-cording to the package rate. 2. The financial department-in-charge will refund the education-attached fee kept by the locality to the enterprises if their devel-opment district has esta blished auxiliary educational facilities. 3. The financial department-in-charge will refund the urban in-frastructure a uxiliary facilities fee levied by the locality to the en-terprises if they inde pendently invest and initiate the water, elec-tricity supply, road construction and other auxiliary facilities in the development district which is located bey ond the urban lay-out. So it is with the urban infra-structure attached fee ke pt by the locality. ¢õ. To encourage foreign businessmen to invest on the backbone industry-tourism . The joint-venture travel agen-cies are allowed to be established in the prov ince-or mu-nicipality-approved tourism resort through approval, with permissi on. The sub-branches can run the relevant busi-ness beyond the resort villas, leisure resorts and the auxil-iary service sectors can be invested within the t ourism re-sorts. The foreign investment tourism sectors involved with productio n can enjoy the favorable policies applicable for the manufactures stimulated in this regulation, and the fa-vorable policies stimulated in ”¶Fujian Regulation on the Promotion of Tourism Industry Development”·as well. ¢ö. The foreign-invested ordinary apartment construction is supposed to pay the real estate contract tax at the rate of 50% of the gross calculated tax volume. ¢÷. To encourage foreign investors to establish the invest-ment-oriented compa ny, those who have set up 3 sectors with an factual projected investment of more than 30 million US are allowed to initiate investment-oriented-companies. Thr ough company can be exempted from the income tax kept by the locality since the profit-making year, and 50% exemption for the next 2 years. ¢ų. To expand the foreign-invested fields, the foreign-invested information co nsultant, transportation, warehouse, medical in-spection and other service sect ors with an operational period of more than ten years, can totally exemption for the next 2 years. ¢ł. The major foreign-invested projects greatly-stimulated by the municipality with an operation period of more than 10 years, can be exempted from value-add ed tax kept by the lo-cality for the first 2 years, 50% for the next 3 years ¢ś. The foreign investment enterprises in the Qingmeng Tech-nological Industria l Region can enjoy the favorable policies of-fered by Quanzhou Municipality, an d the preference stipulated in this regulation. ¢ū. The investors with an actual investment of 0.5 million US can be offered one quota of urban permanent residence, and only need to pay 80% of the local stand ard of the urban vol-ume-added fee. However for every individual investor is a l-lowed to obtain no more than 5 persons for residence quota. ¢ü. The enterprises invested by the Chinese compatriots in Taiwan, HongKong, Mac ao can consult the regulation for the similar circumstance. |
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