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Preferential Polices on Promoting Development of Headquarter of Enterprises and Financial Trade by Tianjin
enorth.com.cn   2007-09-13 13:04

 

As the State Department has brought Tianjin Binhai New Area into the overall national development strategy, Tianjin is facing with great opportunity for its development. As to the development of financial trade, it plays important role not only to build a modern financial service system and a base for the state financial reform but also to promote development and opening of Tianjin Binhai New Area as well as regional overall service function. Therefore, in order to promote development of Tianjin Binhai New Area and encourage both domestic and foreign enterprises especially those in finance to set up head office or regional head office in Tianjin, Preferential Polices on Establishment of Head Companies and the Financial Trade by Tianjin is issued by Tianjin Finance Bureau under the approval of Tianjin People’s Government. Hereby, I would like to introduce the contents of it:

1.To provide fund support to newly-found headquarters or regional headquarters at one time; Special policies are as follows: to provide RMB 20 million to companies whose registered capital is more that 1 billion (including 1 billion); RMB15 million to those whose registered capital is between RMB500 million to RMB1 billion (including RMB500 million); RMB10 million to those whose registered capital is between RMB500 million and RMB100 million (including RMB100 million).

2.As to public facilities such as supply of water, electricity and heat as well as communication needed by those headquarters or regional headquarters as well as enterprises invested by them, relative departments of the government will provide support to them positively and guarantee timely supply. And in terms of policies on prices and charges, they will enjoy the same treatment with enterprises of Tianjin.

3.As to their senior management personnel who are introduced from other provinces or overseas, they can apply to the personnel department if they need permanent registered residence certificate or residence credit of Tianjin and relative department will issue them the above certificates if they are found eligible after examination. And we will provide relative favorable policies for their children entry into kindergarten or primary school.

4.As to public accumulation fund for housing construction paid by such companies for their employees according to less that 15% of employees’ salary, it can be deducted before payment of enterprises income tax and personal income tax will be exempted for employees. As to public accumulation fund for housing construction paid by employees of such companies according to less than 15% of their salary, they can be deducted before payment of income tax and can be exempted from payment of income tax.

5.As to their senior managers who are employed from abroad or overseas, portion of their payment of personal income tax according to regulations exceeds that of abroad or overseas, financial department of same level will return the local retained portion of their payment of personal income tax.

6.As to office buildings bought by financial enterprises in the financial area planed by Tianjin, they will be provided with a capital support according to RMB1000 per sq.m at one time.

7.As to financial enterprises established newly, financial department of same level will return half of their sales tax of three year from the year of establishment and return all the local share portion of their income tax of three year from the year of profit; as to private office house property, it will be exempted the tax of title deed and exempted tax of house property for three years.

8.As to financial enterprises granting loans to small and medium size enterprises, individual and peasant household of our city and extending scope of aggregative trust before the end od 2001, municipal finance will subsidize RMB 150,000 for every increase of RMB 500 million balance at the end of the year.

9.As to senior managers who have sustained employed by financial enterprises for more than two years, when they buy commercial housing or car and participate professional training for the first time in the administrative area of our city, financial department of same level will reward them according to their local retained portion of payment of income tax of personal salary, the highest rewarding total amount is real payment of the commercial housing or car bought, or the professional training participated, the reward will be exempted the income tax. The period of reward can not exceeds five years in principle.

The financial and tax preferential policies above is implemented from January 1st, 2006.


Editor:
 

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Editor: Zhang Jialu

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