From a site called The Lawyer Blog we get a glimpse of the way in which companies are encouraged to invest in the development of assorted zones.
‘Enterprises that were established on Hainan Island and that were engaged in the development and operation of infrastructure such as ports, wharfs, airports, highways, railways, power stations, coal mines, water supplies, etc., and in agricultural development and operations, where their operating periods were 15 years or more, were:
Exempt from income tax from the first through the fifth years starting from the first profitable year
Subject to 50% of the applicable income tax rates in the sixth through the tenth years.’
Which is an amazing deal and shows why industry blossomed in all of the zones around China and why a lot of unauthorized zones popped up.
The rest of this report consists of variations on this theme.
The information seems go have come from KPMG Huazhen, a Sino-foreign joint venture in the People’s Republic of China and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative.
More information by clicking HERE.
Source: The Lawyer Blog
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