On 3 August 2019, China’s Ministry of Finance and State Taxation Administration have jointly published Notice No. 63 of 2 August 2019 providing incentives to boost up tourism industry in the Guangdong Hengqin New Area. The primary incentive for qualifying companies operating in the area is a reduced corporate income tax rate of 15%. The industry catalog with the tourism industry added is attached to the Notice and includes several different types of qualifying tourism activities, including the operation of aquariums, theme parks, museums, cruises, cultural events, health and medical tourism, tourism e-commerce platforms, and others. The notice is effective from 1 January 2019 to 31 December 2019.
World Tax Brief: August 2019
Related Posts
China introduces new VAT withholding rule for individual service providers
China’s Ministry of Finance and State Taxation Administration released Announcement No. 28 of 2026 on 3 September
Read More
China sets 20% tax rate on restricted share sales
China’s Ministry of Finance, the State Taxation Administration, and the China Securities Regulatory Commission
Read More
China: STA updates tax rules for foreign individuals dividend income
China’s Ministry of Finance and State Taxation Administration released Announcement No. 27 on 1 September 2026,
Read More
China: STA clarifies input tax deduction rules for non-taxable transactions
China’s Ministry of Finance and State Taxation Administration released Announcement No. 25 of 2026 on 27 August 2026,
Read More
China, Norway income tax treaty enters into force
China’s State Administration of Taxation has announced that the new income tax treaty between China and Norway
Read More
Ferro-silicon duties take effect as EU prepares major chemical controls
The week was defined by the activation of previously announced trade defence measures rather than the publication of
Read More