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.
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World Tax Brief: August 2019
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World Tax Brief: August 2019
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