On 25 March 2014, China’s Ministry of Finance and State Administration of Taxation (SAT) jointly issued a circular, Caishui [2014] No. 26 (Circular 26) to clarify the criteria for the 15% preferential corporate income tax (CIT). A lower 15% incentive corporation tax rate applies to specified industries in certain areas including the Qianhai modern service industry cooperation zone, subject to certain conditions. The incentive applies for the years from 2014 to 2020 inclusive.
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