Issuer:E&Y

Language:English

Snapshot:Under the new corporate Income Tax Law, a company qualifying as a High New Technology Enterprise (HNTE) will enjoy a low tax rate of 15% which is a very attractive tax benefit, representing a tax rate that is 40% lower than the lower tax rate of 25%. For new HNTEs established in new Special Economic Zones or Shanghai new Pudong Area after January 1, 2008, in addition, to the lower tax rate there is also the benefit of a tax holiday.