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Comprehensive Policies for Tianjin Port Bonded Area
(tjinvest.gov.cn)
Updated: 2006-05-18 11:36 1. Overseas companies,
enterprises, economical organizations and individuals can all invest in foreign
merchants invested, Sino-foreign invested (cooperated) and domestically funded
enterprises in Tianjin Port Bonded Area to engage in international trade, export
process, tax-protection storehouse and other activities related to the
development of Tianjin Port Bonded Area.
2.
Large and medium-sized enterprises are encouraged to go beyond industry to
engage in varied kinds of business, thus becoming composite enterprises that
integrate processing, trade and commercial service as a
whole.
3. Projects with overall investment
dollars less than US$30,000,000 will be examined and approved by the Management
Commission of Tianjin Port Bonded Area. The examination and approval as well as
registration at the Industrial & Commercial department will be finished
within 7 days after the arrival of the whole complete
documents.
4. Building material, mechanical
equipment and moderate amount of office consumables purchased from abroad by the
enterprises in Tianjin Port Bonded Area for their own use are exempted tariff,
import value-added tax and consumption tax; Goods going either from abroad to
Tianjin Port Bonded Area or from Tianjin Port Bonded Area to abroad are exempted
tariff, import value-added tax and consumption tax, and if import and export
permit is concerned, the permit is exempted
accordingly.
5. If the income tax paid by the
enterprises in Tianjin Port Bonded Area engaged in real estate and its auxiliary
service and functional facilities is subsidized financially, the actual income
tax paid will enjoy the preferential treatment of "20% exemption and 20%
deduction" since the day of approval.
6. The
foreign merchants invested enterprises will temporarily exempted the local
income tax.
7. Enterprises in Tianjin Port
Bonded Area engaged in business of export can apply for export tax drawback
according to the regulation.
8. New building
newly built or purchased by foreign merchants invested enterprises in Tianjin
Port Bonded Area will be exempted house property tax for 5 years since the month
of completion or purchase.
9. The fixed asset
of the investment enterprises in Tianjin Port Bonded Area, if for special
reason, can apply for accelerated depreciation with the approval of the taxation
departments according to regulations provided in the tax
law.
10. Profits earned by foreign merchants
invested enterprises, foreign staff's salaries, wages and legal income, if the
tax thereof is paid, can be posted abroad.
11.
If the enterprises have gained the right of land use according to "Land
Management Regulation in Tianjin Port Bonded Area", they can transfer, hire out
and mortgage it according to law, and their legal rights and interests will be
protected by law.
12. If the Chinese
personages in the enterprises in Tianjin Port Bonded Area go abroad for business
for a short period or foreign guests are invited to participate in business
activities, they can be examined and approved by the Management
Commission.
13. Either domestically funded or
foreign funded enterprises can open foreign currency and cash account in the
banks in Tianjin Port Bonded Area and if approved, open foreign currency account
in overseas banks. Foreign currency earned by enterprises can adopt willingness
settlement of exchange. It is unnecessary for enterprises in Tianjin Port Bonded
Area to go through the formalities of canceling after verification of collecting
foreign currency for export and paying foreign currency for
import.
14. In order to be of service to the
development of export-oriented economy in the central-western area, Tianjin Port
Bonded Area will give enterprises that invest in the central-western area
special preferential treatments in terms of financial subsidies, use of land,
settlement of personages, infrastructure service and business service
etc.
(For more biz stories, please visit Industry Updates)
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