Favorable Qianhai corporate tax policy extended

Qianhai's 15-percent corporate income tax rate will remain in effect through Dec. 31, 2025, according to the Ministry of Finance and the State Taxation Administration.

Qianhai’s favorable corporate tax policy was introduced in 2014 and will be extended through 2025.

Under the policy, eligible companies need to have main business and industry projects in five fields, such as modern logistics, information service, technology service, cultural creativity and business service. The revenue from the core business must be over 60 percent of the total.

The favorable corporate income tax rate is applicable only to the revenue of enterprises and branch offices in Qianhai. For qualified Qianhai-based firms, their headquarters and branches in the zone are eligible for the 15-percent tax rate. For those that have headquarters in other areas, their Qianhai branches are entitled to the 15-percent tax rate.

Qianhai’s bonded zone is about to further expand in the future, according to media reports.