China Updates- Shanghai Free Trade Zone & Tax

Shanghai Free Trade Zone (“FTZ”)

Several industries were opened up to foreigners within the FTZ. To enquire whether yours is one of them, please contact us.

Tax

The Ministry of Finance and the State Administration of Taxation issued a circular, to be effective from 1st January 2014 to the end of 2018, giving tax breaks (e.g. reduced rate of CIT of 15%) to “qualified advanced technology services companies”.

Also with retroactive effect (to 1st January, 2014), accelerated depreciation of certain fixed assets is now allowed under Circular 64. This is not really a tax break, but will improve cash flow for companies with qualifying assets by reducing CIT in the early years.

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Need more information?
Please contact:
John Barclay -Email
Teresa Tam - Email 
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Primasia Corporate Services Limited
Tel: +852 2882 2088
Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong