China News Service, June 30, according to the Ministry of Finance website, recently, the Ministry of Finance and the State Administration of Taxation jointly issued a notice on Hainan Free Trade Port Corporate Income Tax Preferential Policies. The notice pointed out that for the encouraged industrial enterprises registered in Hainan Free Trade Port and substantively operating, the enterprise income tax will be levied at a reduced rate of 15%.
The catalogue of encouraged industries in Hainan Free Trade Port includes the "Guidance Catalogue for the Adjustment of Industrial Structure (2019 Edition)", "Catalogue of Encouragement of Foreign Investment in Industries (2019 Edition)" and the catalog of newly encouraged industries in Hainan Free Trade Port. If the above catalogue is revised within the time limit for the implementation of this notice, the new version shall be implemented as of the date of implementation of the revised version.
The notice stated that the income from new overseas direct investment in tourism, modern service industry and high-tech industrial enterprises established in Hainan Free Trade Port will be exempted from corporate income tax.
In addition, the notice also mentions that for enterprises established in Hainan Free Trade Port, newly purchased (including self-built and self-developed) fixed assets or intangible assets with a unit value of not more than 5 million yuan (inclusive) are allowed to be included in the lump sum The current cost is deducted when calculating the taxable income, and depreciation and amortization are no longer calculated annually; for newly purchased (including self-built and self-developed) fixed assets or intangible assets, if the unit value exceeds 5 million yuan, the depreciation, Amortization period or adopt accelerated depreciation and amortization methods.