International Law

Corporate Income Tax Exempted for Primary Processing of Agricultural Products in Jiangxi

By China Briefing

Apr. 23 ? The local tax bureau in Jiangxi Province recently announced tax incentives and services to support the construction of Poyang Lake Ecological Economic Zone.

Issued on March 31, the preferential tax policies and service measures remove business income tax on the enterprises engaging in growing vegetable and other primary processing agricultural products, as well as forest planting and cultivation.

The measures also stipulate that the business tax levied on the enterprises engaging in flowers, tea and other beverage crops and spice crops business will be reduced by half and that no business tax or corporate income tax will be levied on enterprises engaging in agricultural services.

Furthermore, the taxation bureau also stated that business tax, urban maintenance and construction tax and educational surcharges shall be accordingly deducted and reduced for enterprises recruiting migrant workers and personnel regarded as previous laid-off workers with approval from the labor department.

Full post as published by China Briefing Blog on April 23, 2010 (boomark / email).