ENTERPRISE INCOME TAX

China Releases Updated Catalogue of Encouraged Industries in Western Region

04 February 2021

The National Development and Reform Commission released the 2020 edition of its catalogue of encouraged industries in the western region (Order No. 40 [2021]) on 18 January 2021, which will take effect on 1 March this year. More

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China Details Tax Concessions for IC and Software Industries

11 January 2021

China’s Ministry of Finance, State Taxation Administration, National Development and Reform Commission and Ministry of Industry and Information Technology recently issued a joint announcement (No. 45 [2020]) concerning enterprise income tax policies to support the integrated circuit (IC) and software industries. More

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China Updates Pre-Tax Deduction Rules for Advertising, Promotional Expenses

28 December 2020

The Ministry of Finance and the State Taxation Administration jointly announced new arrangements for pre-tax deductions for advertising and promotional expenses (Announcement No. 43 [2020]) some time ago. More

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Qianhai Extends Preferential Enterprise Income Tax Policy

02 September 2020

In order to facilitate enterprises in the Shenzhen Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (the Zone) in applying for preferential policies, the Qianhai Management Authority has decided to extend its trial operational guidelines on awarding preferential enterprise income tax treatment for enterprises in the Zone (Shen Qian Hai Gui No. 4 [2018]). More

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Guangdong Offers Tax Incentives to Boost Rural Revitalisation

27 May 2020

The Guangdong Provincial Tax Service of the State Taxation Administration recently issued a notice calling on tax bureaus across the province to strengthen the implementation of tax policies in support of poverty alleviation and rural revitalisation efforts. More

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Western Region Preferential Income Tax Policies Extended Until End of 2030

07 May 2020

The Ministry of Finance, the State Taxation Administration and the National Development and Reform Commission (NDRC) recently announced the continuation of preferential enterprise income tax policies in the western region (Announcement No. 23 [2020]). More

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Enterprises in Western Region Continue to Enjoy Preferential Income Tax Policy

20 April 2020

In order to further promote the development of the western region and stabilise the long-term development expectations of enterprises, the State Council executive meeting on 14 April decided to extend the implementation period of the preferential policy of levying income tax on enterprises encouraged by the state in the western region at a reduced rate of 15% originally due to end at the end of 2020. More

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Income Tax Concessions Rolled Out for Advanced Technology Service Businesses

18 December 2017

Advanced technology service companies are to benefit from a raft of tax incentives intended to both boost competiveness and fund ongoing technological upgrades. The move was outlined in a circular jointly issued by a number of government departments, including the Ministry of Finance and the General Administration of Taxation. More

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Revised Law Clarifies Charity-related Tax Reliefs

03 March 2017

Minister of Finance Xiao Jie recently briefed the Standing Committee of the National People’s Congress (NPC) on the changes contained in the Amendment to the Enterprise Income Tax Law of the People’s Republic of China (Draft). More

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Preferential Income Tax Policies for Qualified Service Enterprises

05 December 2016

To further expedite the development of trade in services and optimise China’s foreign trade structure, the Ministry of Finance (MOF) announced on 5 December new policies granting preferential income tax treatment to qualified technologically advanced service enterprises operating in pilot zones for service trade innovation. More

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