It has been reported that the government announced on 17 August 2007 that the corporate income tax cut for large-scale foreign invested companies will be extended to 7 years from the current 5 years in order to promote foreign investment in the Free Economic Zones (FEZs). Pursuant to the extension, large-scale foreign invested company will be permitted to claim a corporate tax reduction of 100% for the first 5 years and 50% for the 6th and 7th years.
A…