Investment guide of Ningbo Daxie Development Zone

Preferential corporate income tax rate of 15% for production-oriented projects by foreign investors.

Corporate income tax is exempted for the first two profit-earning years and half reduced to 7.5% for the forthcoming three years,provided the operation period of the investment project is above 10 years.

For investment in infrastructure like port, jetty, bridge, highway, railway, and etc, corporate income tax is exempted for the first five profit-earning years and half reduced to 7.5% from the sixth to the tenth year, given the operation period of such an investment project is above 10 years.

For production-oriented foreign investment, local income tax is exempted for the first five profit-earning years; provided the operation period is above ten years and criteria for local income tax exemption is met, local income tax can be exempted for the next five years subject to the approval of the taxation authority of NDDZ.

Profit gained by foreign investors from the investment enterprise can be remitted outside <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /> China , free of income tax.

For re-investment in NDDZ with profit gained by a foreign investor from its investment enterprise, given the operation period of the reinvestment project is above 5 years,40% of the income tax previously levied on the re-investment protion can be refunded; provided the re-investment is on export-oriented production or hi-tech enterprises in NDDZ, all the income tax previouely levied on the reinvestment portion can be refunded.

For investment falling into the category of the Encouraged and the Restricted(B) in the National Industry Direction Directory, customs duty and import-related value added tax are free for import of self-contained production equipment that is within the total sum of investment.

For production-oriented projects that are coherent to the master plan of Daxie development and industry direction, Daxie local fiscal authority is to grant a variety of financial support. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />