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The Chinese government has recently announced the building of a high-quality and high-standard free trade port in south China’s Hainan Province.Hainan Master Plan will allow the Hainan Free Trade Port to be built as a convenient and efficient single port for imports and exports with overseas countries. A special supervision system will be implemented to monitor their import and export management process. You may be interested in the taxes polices and exemptions ,here are some information for your reference.
What about its taxes’ policies?
1. Maximum personal income tax of 15 percent for eligible talents
2. Corporate income tax of 15 percent on encouraged industrial enterprises
3. Allow qualified capital expenditures to be fully tax deducted, or to accelerate depreciation and amortization
4. Export tax rebates on domestically built ships that are registered at Yangpu Port of China and engaged in international transport
5. Adopt a trial policy of tax rebates at the port of departure on goods that use Yangpu Port of China as a transit port for the final departure from China
What about its taxes’ exemptions
6. Exemption from import duties, import value-added tax, and consumption tax on imported production equipment for enterprises’ own use
7. Exemption from import duties, import value-added tax, and consumption tax on imported operational vehicles and yachts
8. Exemption from import duties, import value-added tax, and consumption tax on raw and auxiliary materials imported for production
9. Exemption from import duties, import value-added tax, and consumption tax on imported goods purchased by island residents
10. Exemption from corporate tax on the income acquired from a new foreign direct investment before 2025 for tourism, modern services, and high-tech industry enterprises
11. Tax exemption on imports and sales for overseas exhibits during the exhibition
12. Products originating from Hainan, including output products whose added value exceeds 30 percent after the domestic processing of imported intermediary products, are exempt from taxes when entering the rest of China
ATAHK has three branches in Hainan. If you are interested to know more about the new Hainan Free Trade Port Zone and want to expand your business in the Chinese province, please do feel free to contact us at hotline 86-13823131503(Wechat ID)
Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling China hotline at 86-13823131503, or emailing to selinawu@citilinkia.com.