China's Ministry of Finance and the State Administration of Taxation have issued a notice regarding a reduced corporate income tax (CIT) rate of 15% in three economic areas/zones. The standard rate of CIT is 25%.
The three zones include:
- Hengqin New Area - located in the Zhuhai Special Economic Zone in Guangdong Province
- Pingtan - the provincial capital of Fujian, located near Taiwan
- The Qianhai Zone - located in western Shenzhen, near Hong Kong
In order to qualify for t…