Investing In China: Sample Local Investment Incentiives (Henan Province And Zhengzhou Municipality)
Additional incentives offered by local and provincial governments significantly increase the foreign investors incentive package. They tend to become more generous as one moves westward from the coastal provinces to the heavily populated interior, this allowing the foreign investor to cash in on Chinas fierce domestic competition for foreign investment. There are national regulations, however, that are applicable to the tax incentives that a local government is entitled to offer Foreign Invested Enterprises (FIEs), and if these limits are exceeded by overenthusiastic local governments they can be revoked by the national government (hopefully any such revocation would not apply retroactively to FIEs).
Central Chinas Henan province serves as a good example. Henan offers manufacturing-oriented FIEs complete waivers of business tax and a many local administrative fees. Furthermore, FIEs that are engaged in technology transfer, development, and related consulting are eligible for a full refund of business tax already paid.
Regional Tax Incentives Offered By Henan...
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