The Zhuhai Free Trade Zone Administrative Committee will raise financial incentives for its key enterprises and those in the Zhuhai-Macao Cross-Border Industrial Zone -- especially ones solely funded by Macao and prominent in driving up the local economy.
The revised Implementation Opinion of the Zhuhai FTZ-Zhuhai-Macao Cross-Border Industrial Zone to Support Key Enterprise Development was just released. It pledges increased support to companies engaged in modern industry and logistics, architecture, finance, transportation, business and trade, wholesale and retail, software and information consultation, technology services, education, public health, culture and tourism, and general aviation services.
The financing will depend on a company's annual operating revenue, year-on-year growth, fiscal contribution, and other indexes.
Shizimen Central Business District in the Hengqin Economic Development Zone which is being integrated with the Zhuhai Free Trade Zone [Photo by Li Jianshu / Zhuhai Daily]
Newly authenticated enterprises above designed size or those with first-time operating revenue of 100 million yuan ($15 million) or above and direct fiscal contribution of 500,000 yuan ($72,720) or above will receive 50 percent of their income and value-added tax.
If an enterprise's direct fiscal contribution outstrips that of last year, the proportion will be 70 percent to 90 percent of the exceeding part, or otherwise the amount will be based on current-year results.
Macao enterprises with sole proprietorship will be refunded half of their fiscal contribution under any of the following conditions: industrial and commercial tax payment ranks among top 10 in the Zhuhai-Macao Cross-Border Industrial Zone and exceeds 500,000 yuan; operating revenue ranks among top 10 and exceeds 5 million yuan ($727,209); operating revenue ranks among top 10 and records a year-on-year increase of 8 percent or above (unless the company had no operating revenue the previous year).
The implementation opinions stipulate that authentication and award issuance should be conducted annually and will remain valid until July 31, 2020. Eligible enterprises can apply to cash in their supportive award for 2018 or apply for 2019.