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| Issue 10, 2003 (01 October) |
FIEs in Nansha Entitled to 15% Preferential Income Tax Rate
The Nansha Economic and Technological Development Zone is a State Council-approved development zone where foreign-invested production enterprises are entitled to corporate income tax at the reduced rate of 15%. FIEs with an operating period of 10 years or more are also exempt from local income tax. The minimum wage in the zone is Rmb450 a month, which is Rmb60 lower than that of Guangzhou. Economic entities with legal person status may apply for the establishment of bonded warehouses. Goods stored at the bonded warehouses are eligible for deferred tax payment, and waiver of import licence and other import-related documents.
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