BIZCHINA / Policies
Preferential policies on taxation in Daqing
(eng.daqing.gov.cn)
Updated: 2006-05-10 15:29
The proportion and term concerning the retained proportion of the
value-added tax levied on the new industrial enterprises or the
process-oriented enterprises will be determined by the city's financial
authorities according to the production scale and operation period of the
enterprises. After the term of the income tax exemption expires in line
with the state regulations, the city's financial authorities will
determine the proportion and term of the tax to be postponed or returned
at the request of the investors.
In terms of the postponement and return, the proportion and term of other
local taxes to be levied on the new industrial enterprises and
process-oriented enterprises will be determined by the city's financial
authorities at the request of the investors.
The tax levied on the new commercial businesses with the invested fixed
assets totaling 10 million RMB yuan or more will be reduced to
fifty(50)per cent.
Those who purchase the whole property right of a medium-or small-sized
company will enjoy thirty(30)per cent of price reduction and the contract
tax will be exempted. If the purchased company is a closed enterprise,
the local taxes levied will be totally returned to the purchasing
enterprise in three year's time.
If the new company employs fifty(50) per cent or more of the purchased
company's employess, surplus labors and unemployed youths, it will have
its local taxes returned in three years' time starting from its business
license being issued, and it will also enjoy other corresponding
preferential public polices.
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