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: 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
China, Switzerland conclude negotiations to revise free trade agreement
China and Switzerland announced the conclusion of negotiations to optimise their 2013 free trade agreement (FTA),
Read More
China: New offshore trust tax forces wealthy to reassess holdings
China’s tax authorities have implemented a 20% levy on offshore trust structures, creating immediate pressure on
Read More