Featured Images

China Expands Service Outsourcing Sector Tax Breaks – Tax

by Mary Swire, Tax-News.com, Hong Kong

15 November 2016

China is to extend to 10 more cities the tax incentives available for outsourcing
service companies using advanced technology, in a further effort to boost the
outsourcing sector in the country.

Following State Council approval, the Ministry of Finance has announced that
corporate income tax (CIT) cuts will now be available in Shenyang, Changchun,
Nantong, Zhenjiang, Fuzhou, Nanning, Urumqi, Qingdao, Ningbo, and Zhengzhou,
following the 21 cities which were initially approved in 2014.

The tax incentives consist of a reduction in the CIT rate from 25 percent to
15 percent for such companies, while they can also benefit from an annual deduction
for employee education expenses up to eight percent of total wages. The measures
are to be in force until December 31, 2018.

Article source: http://www.tax-news.com/news/China_Expands_Service_Outsourcing_Sector_Tax_Breaks____72748.html

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>