Guidelines for enterprises applying to prepay enterprise income tax at the preferential rate
2015-April-2 Source:
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In line with the guidelines set forth in Notice on the Preferential Policies and Catalogue of Enterprise Income Taxes in Hengqin New Area in Guangdong Province, Pingtan Comprehensive Pilot Zone in Fujian Province and Shenzhen Qianhai Deepwater Port Modern Service Industry Cooperative Zone issued by the Ministry of Finance, the State Administration of Taxation (National Finance and Tax Regulation No.26 [2014], hereafter referred to as "Notice") , and Notice (Guangdong Finance and Tax Regulation No. 53 [2014]) issued by the Guangdong Department of Finance, the Guangdong Municipal Office of the State Administration of Taxation and the Guangdong Local Taxation Bureau, we hereby provide a summary of the steps necessary for enterprises whose operations meet qualifications stipulated in the above laws and who have major operations registered in Hengqin New Area to file an application to pay business income tax in advance at the preferential rate in Hengqin New Area.

1. Enterprises registering in Hengqin New Area before Dec. 31, 2014, that have major operations in the area meeting the qualifications of The Catalogue of Preferential Enterprise Income Tax in Hengqin New Area, (hereafter referred to as The Preferential Tax Catalogue), may file an application to enjoy the Preferential Enterprise Income Tax and pay this tax in advance. Those who would like to apply for such filing status should report to the Hengqin Office of the State Administration of Taxation and the General Office of the Hengqin Local Taxation Bureau to complete the necessary procedures. Staff members at the taxation offices in question are available for consultation concerning specific procedures.

2. Enterprises may reference "The Comparison of Industrial Code Standards of the National Economy and Hengqin Preferential Catalogue" to determine whether their fields of business and major operations qualify under The Preferential Tax Catalogue.

3. If the taxation authorities find that is unclear whether a particular enterprise or its operations accord with the qualifications set forth in The Preferential Tax Catalogue, then according to The Implementation Measures on the Definition of Enterprises with Major Operations Meeting Qualifications Pursuant to the Policies on Preferential Enterprises Income Tax (Zhuhai Hengqin New Office Regulation No.44 [2014]), the enterprise in question may fill out "The Form for Assuring the Basic Conditions for the Policies on Preferential Enterprise Income Tax in Hengqin New Area" and submit this, together with a written opinion provided by the taxation authorities in charge, application to the Provisional Office for the Definition of Policies on Preferential Enterprise Income Tax in Hengqin New Area. Enterprises may continue filing an application to receive the Preferential Enterprise Income Tax after the Provisional Office has completed its review.

4. Qualified enterprises whose prepayment applications are approved by the taxation authorities in charge shall prepay the enterprise income tax with a 15 percent tax rebate. If the proportion of the income of primary operations to the gross income of the enterprise fails to reach the regulated standards at the end of the fiscal year, the enterprise in question shall apply for the calculation of the tax rate in accordance with the regulations and provisions of tax laws and settlement accounts with the appropriate taxation authorities accordingly.


Editor: Will
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