« A Few Important Facts about China’s New Corporate Income Tax
By Vincent Cheung from www.pathtochina.com
1. The Tax Rate for both Chinese-owned and Foreign-owned companies are unified to 25%
2. Pudong and Five Special Economic Areas are entitled to five years’ transitional period, with the tax rate rising from 15% to 25% within 5 years( 18% 20% 22% 24% 25%).
3. The encouraged high-tech companies can enjoy a preferential 15% tax rate. For those new high-tech companies in special economic areas and Pudong, the “two exemption, three half” policy will be applied.
4. Small enterprises with thin profit can enjoy a preferential 20% tax rate.
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