1.Value-added Tax (VAT)
(1)For new municipal-above hi-tech projects and products, besides enjoying the related preferential policies of the State and the province, 50% of the portion of the paid value-added taxes retained by the county or towns government shall be refunded as reward within a period of five years from their going into production.
(2)For any newly established projects of the production type, if the invoiced annual sales reach RMB 5 million yuan, 50% of the portion of the paid value-added taxes retained by the county or towns government shall be refunded as reward within a period of five years.
(3)For any enterprises, after the expiry of the period of enjoying the preferential policy, if the enterprise continues to increase capital or enlarge stock share and the increased fixed assets reaches RMB 5 million yuan or above, of the portion of the value-added taxes paid by the said enterprise exceeding the previous year, 50% of the increased portion retained by the county or towns governmental shall be continuously refunded as reward within a period of five years.
2.Corporate Income Tax (CIT)
(1)For a newly established manufacturing enterprise, 100% of the Corporate Income Tax retained by the county or towns governmental shall be refunded as reward in the first two profit-making years and 50% in the following three years.
(2)After the expiry of the period of enjoying the preferential policy, if the enterprise continues to increase capital or enlarge stock share and the increased fixed assets reaches RMB 5 million Yuan or above, based on the previous CIT number from the year before increasing capital or enlarging stock share, 100% of the Corporate Income Tax retained by the county or towns governmental shall be refunded as reward in the first two profit-making years and 50% in the following three year. |