Companies and industries operating in China's less-developed western regions will continue to enjoy the benefits of preferential tax policies until 2021, according to a jointly-issued notice from the Ministry of Finance, the General Administration of Customs and the State Administration of Taxation. The company tax rate imposed on companies and industries whose main business is in sectors covered by the Catalogue of Encouraged Industries in Western Regions (《西部地区鼓励类产业目录》), will be reduced to 15%. Qualified businesses will also benefit from various other preferential tax policies, including exemptions from customs tax. The western region of China consists of the following provinces: Chongqing, Sichuan, Guizhou, Yunnan, Tibet, Shaanxi, Gansu, Ningxia, Qinghai, Xinjiang and Guangxi.

Source
Securities Times

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