Apart from preferential policies of the Western Development Drive, Guangxi Beibu Gulf Economic Zone and Nanning Municipal People’s Government, enterprises settling in the park will also enjoy special incentive policies of the zone.
Preferential policies of Western Development Drive
1. If it is recognized as a high-tech enterprise, its income tax shall be levied at the reduced tax rate of 15%. From January 1, 2011 to December 31, 2020, enterprises whose income tax is levied at the reduced tax rate of 15% are those who have settled in western regions and dealt in businesses listed on the “Catalogue of Encouraging Industries in the Western Regions”, and whose main business income accounts for 70% of the total.
2. For the self-use equipment, used in the encouraging industries or advantageous industries in western regions and imported within the total amount of investment, it shall be exempt from customs duties within the scope of the policies.
Preferential policies of Guangxi Beibu Gulf Economic Zone
1. From January 1, 2014 to December 31, 2020, newly-established enterprises that enjoy the preferential policy of reduced corporate income tax at the reduced rate of 15% are exempt from the corporate income tax under local government.
2. Newly-established industrial enterprises that comply with the provision of Article 3 to get involved in the encouraging industries such as textiles, pharmaceuticals, machinery and food, and whose main business income accounts for more than 50% of the total will be exempt from the corporate income tax under local government from the first year it gains profits to the 5th year, and will be halved from the sixth to the seventh year.
3. Newly-established enterprises that deal in businesses mainly related to the encouraging industries as stipulated in Article 3, and whose business income accounts for more than 50% of the total will be exempt from land tax and property tax involved in their operation.