Circular of the Ministry of Finance and the State Administration of Taxation concerning the Related Preferential Policies of Enterprise Income Tax for Supporting the Development and Openness of Binhai New Area of Tianjin

Circular of the Ministry of Finance and the State Administration of Taxation concerning the Related Preferential Policies of Enterprise Income Tax for Supporting the Development and Openness of Binhai New Area of Tianjin

Cai Shui [2006] No. 130

November 15, 2006

The Finance Department (bureau), State Taxation Bureau and Local Taxation Bureau of Tianjin Municipality,

For the purpose of implementing the Opinions of the State Council on the Rated Issues about Promoting the Development and Openness of Binhai New Area of Tianjin (Guo Fa [2006] No. 20), the related preferential policies of enterprise income tax for Binhai New Area of Tianjin (BNAT) are hereby notified as follows:

I. As for the preferential tax policies for new and hi-tech enterprises
The enterprise income tax shall be levied at a reduced tax rate of 15% for Chinese-funded or foreign-funded newand hi-tech enterprises, which are established within the BNAT and recognized by the science and technology administrative department of Tianjin Municipality in accordance with the relevant provisions of the State.
The current preferential tax policies can be applicable to those enterprises within Tianjin Economic and Technological Development Zone, Tianjin Port Bonded Area, Tianjin Export Processing Zone or Tianjin New Technology Industrial Park continuously; and if any of the aforesaid enterprises simultaneously satisfies the provisions in the preceding Paragraph, a reduced enterprise income tax rate of 15% can be levied on it .
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