Article: NEW TAX POLICY LAUNCHED FOR WESTERN CHINA

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New Tax Policy Launched for Western China

CHINA, May 30, 2002 (AsiaPort via COMTEX) -- Chinese General Taxation Bureau hasissued the Implementation Instruction of Tax Policy for WesternDevelopment. Several preferential tax policies for the WesternDevelopment were clarified in this notice.

According to the regulation, enterprises that are devoted to thestate- encouraging projects with the income from these projectsexceeding 70 of their annual total can apply for preferentialtreatment. After investigation and inspection of relevant taxorgans, 15 of their income tax can be exempted.

For enterprises that invest in traffic, electricity, irrigationworks, post system, and ...

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