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Tax preferences for Qianhai firms
2011-April-15 Source: Szdaily web edition
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Enterprises registered in Qianhai engaged in offshore outsourcing, modern logistics and advanced technology will be eligible for tax exemptions or reduction.

Shenzhen-registered insurance companies that insure international cargo for enterprises in Qianhai were also eligible for taxation exemptions, Qian Yong, head of the Shenzhen local taxation bureau, said at a salon with enterprises Tuesday.

Advance technology enterprises accredited by the local government were eligible for a preferential corporate tax rate of 15 percent.

The bureau is also considering preferential taxes for finance and e-business enterprises. As well as preferential tax rates, the city will consider incentives in tax rebates, subsidies and professional introductions to build a competitive edge for modern service industry in Qianhai, a strategic center for Shenzhen’s future development in Nanshan District.

At a talent work meeting Tuesday, Party chief Wang Rong said the city would pilot a new mechanism in professional introductions, service and management in Qianhai. The city would introduce an international payroll mechanism to attract professionals and offer shares to professionals. It would also seek support from the Central Government to simplify rules for expatriates to apply for green cards and permanent residence permits.

Shenzhen and Hong Kong will jointly develop the 15-sqkm Qianhai into a demonstration zone for the modern service industry.

The Central Government has granted the Qianhai Management Bureau authority as the municipal government in approving non-financial industry projects.

The Qianhai Cooperative Ordinance, referred to as the “Basic Law” for Qianhai, is expected to have its first draft finished and hopefully released before June.

Editor: Olivia
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