15% corporate income tax preferential treatment finally in place in Qianhai
Qianhai Shenzhen-Hong Kong Modern Services Industry Cooperation Zone (Qianhai) is one of the four regions in Mainland China that currently has a 15% preferential Corporate Income Tax (CIT) rate. The State Council released the (the "CIT Incentive Catalogue") in March 2014, which formally launched the CIT preferential treatment for Qianhai at the state level. Since then, the Qianhai Administrative Committee jointly with Shenzhen State Tax Bureau (Shenzhen STB) and Shenzhen Local Tax Bureau (Shenzhen LTB) have issued a number of local implementation regulations in order that enterprises located in Qianhai can enjoy the CIT preferential treatment in practice.
In this issue of News Flash, we will summarise the policies in relation to Qianhai CIT preferential treatment at the state and local level, highlight detailed regulations and important areas to note when applying for the CIT preferential treatment in Qianhai and share our observations for investment opportunities in Qianhai.
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