Guangzhou's Nansha recently reduced the maximum income tax rate from 25% to 15% for enterprises in key industries, including high-tech industries, information technology, advanced manufacturing, biomedicine, new energy and new materials, shipping and logistics, modern service industry, and financial industry, according to an announcement released by the Department of Finance of Guangdong Province.

The announcement explains the income tax preferential policy for Nansha's enterprises and is in line with the overall plan released by China's State Council in June to promote the cooperation between Guangdong, Hong Kong and Macao by deepening opening-up in Nansha.

The announcement defines detailed conditions of applying for the preferential income tax rate. A list of related industries is also published, including 140 specific fields in 8 industries.

As the announcement specifies, high-tech industries cover artificial intelligence and integrated circuits, high-end equipment, life and health, energy conservation, and environmental protection.

According to Guangzhou Municipal Finance Bureau, Guangzhou will formulate detailed measures to better implement the preferential income tax policy and promote the high-quality development of the key industries.

Related link:

The announcement of the preferential income taxation policy for enterprises in Nansha

《廣東省財政廳 國家稅務總局廣東省稅務局轉發財政部 稅務總局關于廣州南沙企業所得稅優惠政策的通知》

http://czt.gd.gov.cn/tzgg/content/post_4038210.html

Reporter丨Nina

Editor丨Wing, Steven, Jasmine, Jerry