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China applies exemptions and tax exemptions to chip manufacturers
2018/03/30 13:16
(Encyclopedia of this Day News | Iraq News ) - Direct: China revealed exemptions and tax exemptions for semiconductor companies, in a move aimed at reducing dependence on foreign chip manufacturers, and in conjunction with the tension in trade relations with the United States.
The finance ministry in the world's second-largest economy said chips manufacturers were to be exempted from corporate taxes for two or five years, followed by a partial discount, Reuters reported.
China is seeking to secure its trade conditions in tandem with US actions against it. US President Donald Trump signed a decision last week to impose tariffs on China's imports worth 50 billion dollars.
Companies producing high-quality chips using 65 nm or less through investments of more than 15 billion yuan ($ 2.39 billion) would be exempted from corporate taxes for 5 years, it said.
Companies producing quality chips of 130 nm or less will be exempted from taxes for two years.
These decisions are made at the beginning of the taxes owed by companies since the beginning of this year.
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The finance ministry in the world's second-largest economy said chips manufacturers were to be exempted from corporate taxes for two or five years, followed by a partial discount, Reuters reported.
China is seeking to secure its trade conditions in tandem with US actions against it. US President Donald Trump signed a decision last week to impose tariffs on China's imports worth 50 billion dollars.
Companies producing high-quality chips using 65 nm or less through investments of more than 15 billion yuan ($ 2.39 billion) would be exempted from corporate taxes for 5 years, it said.
Companies producing quality chips of 130 nm or less will be exempted from taxes for two years.
These decisions are made at the beginning of the taxes owed by companies since the beginning of this year.
Note: The content entitled (China applies tax exemptions and exemptions to chip manufacturers) was first published on the site (live website) and the encyclopedia of this news day is not guaranteed in any way.
You can see the details of this address (China applies tax exemptions and exemptions to chip manufacturers) through its original source (any site).
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