Summary
[The Central Committee of the Communist Party of China and the State Council: Improve the preferential policies for corporate income tax in the cooperation zone]The Central Committee of the Communist Party of China and the State Council have issued the “Overall Plan for the Construction of the Hengqin Guangdong-Macao Intensive Cooperation Zone”. It pointed out that the 15% reduction of corporate income tax on eligible industrial enterprises in the cooperation zone will bring all industries that are conducive to the moderately diversified development of the Macao economy into the scope of the policy. For the eligible capital expenditures of the enterprise, it is allowed to deduct or accelerate the depreciation and amortization before the one-off tax in the current period of the expenditure. Enterprise income tax shall be exempted on the income from newly-added overseas direct investment of tourism, modern service, and high-tech industrial enterprises established in the cooperation zone. (China Business News)
The Central Committee of the Communist Party of China and the State Council issued the “Overall Plan for the Construction of the Hengqin Guangdong-Macao Intensive Cooperation Zone”. It pointed out that the 15% reduction of corporate income tax on eligible industrial enterprises in the cooperation zone will bring all industries that are conducive to the moderately diversified development of the Macao economy into the scope of the policy. For the eligible capital expenditures of the enterprise, it is allowed to deduct or accelerate the depreciation and amortization before the one-off tax in the current period of the expenditure. Enterprise income tax shall be exempted on the income from newly-added overseas direct investment of tourism, modern service, and high-tech industrial enterprises established in the cooperation zone.
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