Malaysia Hotline: +603- 2141 8908
Overview of Yiwu
Yiwu is
the best place for traveling, rich culture brings a great different feeling for
people, especially for foreigner who would like to come here and develop their
career, even immigrate here. If you want to know much more information of
immigration and visa, ATA will give you a good answer.
If you
want to live in Yiwu China, you don't just turn to the relevant government
departments for so many certificates and formalities, but turn to ATA. At ATA
we are not only give you tailor-made service for your need, but also for your
satisfaction. ATA’s services are business-orientated and value-orientated.
Yiwu Taxation and Tax Return
1. For
foreign invested manufacturing enterprises with an operation period of over 10
year, staring from when profits are achieved, income taxes will be exempted for
year 1 and year 2 and levied on a half rate from the 3rd to the 5th years.
2. The
income tax on production enterprises with foreign investment shall be levied at
a reduced rate of 24%. And the income tax on the production foreign-invested
enterprises (FIEs) that adopt advanced technology and located in Yiwu Economic
& Technological Development Zone or Yiwu Hi-tech Zone (including Yiwu
Cross-Strait Scientific Industry Development Park) shall be allowed a reduced
income tax rate of 15%.
3.
Production projects with foreign investment in middle and west China,
encouraged by the state industrial policies shall pay income tax at the reduced
rate of 15% for three years on expiry of the current favorable tax period.
4. For
foreign invested enterprises at west China (including Yiwu) and under the
encouraged category of Guiding Directory for Foreign Invested Industries or
belonging to the Directory for Advantageous Foreign Invested Industries at
Mid-west China, provided the encouraged industries are the key business of the
companies accounting for over 70% of the total income, income taxes will be
levied on 15% during 2001 and 2010.
5. The
FIEs which are engaged in technology or knowledge-intensive projects, or which
make an investment over USD 30 million and have a long payoff period, which are
engaged in production for energy and transportation projects, shall pay
business tax at a reduced rate of 15% upon approval by the competent tax
authority.
6.
Following the expiration of the tax preferential period, the business income
tax for foreign funded export enterprises shall be reduced by half of the state
decided rate if their export for the current year exceeds 70% of the total
production value. For export enterprises that pay business income tax at a rate
of 15% of the state decided tax rate, the tax rate shall be reduced to 10% if
they meet the abovementioned conditions.
7. The
income tax on the financial agencies such as foreign funded banks, joint
venture banks and etc., which are located in Yiwu, shall be levied at a reduced
rate of 15%upon approval by tax authority foreign investors or operation
capital from the head bank to the branch exceeds USD 10 million and with an
operation period of exceeding 10 years. The business income tax shall be
exempted for the first year and be reduced by half in the 2nd and 3rd year
staring from the year the begin to make profit.
8. For
foreign invested enterprise to utilize pretax profit to increase its registered
capital or use after-tax profit to establish new enterprises, with an operation
period over five years, 40%of the income taxes paid for the re-investment will
be refunded by ratification of tax administration. If the new enterprise is
engaged in high and new technology, export-oriented, infrastructure projects
such as highway, energy, irrigation, or public facility or the development of
agriculture, forestry, stockbreeding and fishery with at least 5 years'
operation period, the paid business income tax for the re-invested value shall
be fully refunded to the investors.
9. The
foreign companies, enterprises and other economic agencies that have no branch
in Yiwu but obtain income from Yiwu's bonus stock, interest, rent franchise
fights and others, shall be allowed a 10% reduction rate on the income tax.
10. For
foreign invested enterprises with R&D expenses increasing 10% over the
previous year (inclusive), 50% of the actual R&D expenses may deduct the
tax that year.
11. For
foreign invested advance-technology enterprises which are recognized as
advanced technological enterprises, after the expiry of their exempt or reduced
tax period, half-tax rate period may be prolonged for additional three years as
described by tax regulation. The income tax rate below 10% will be levied at
10% for the enterprises conforming to the half-tax reduction conditions.
12. For
Chinese-invested enterprises located inside CDHT and recognized as a high-tech
enterprise, the income tax will be reduced to 15 percent. A newly established
Chinese-invested high-tech enterprise shall be exempted from income tax during
the first 2 years from the year when it shows the first sales income. For
Chinese-invested enterprises located inside CDHT and encouraged by the State,
the income tax shall be reduced to 15 percent prior to 2010.
Contact
us
If
you have further queries, please contact Tannet
24
hours Malaysia hotline：603-21418908;
24
hours Hong Kong hotline：852-27837818;
24
hours Hong Kong hotline：86-755-
36990589;
Email:
mytannet@gmail.com
TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my