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Agricultural Development Bank of China
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Fangchenggang City

June 19, 2019


Abstract :  The Interim Measures of Fangchenggang City on Rewards for Supporting the Upgrade of Industrial Enterprises' Development

(I) The Interim Measures of Fangchenggang City on Rewards for Supporting the Upgrade of Industrial Enterprises' Development

For the enterprises that have prime operating revenue of more than 20 million yuan and have been included into the enterprises above designated size for the first time, the municipal financial department shall give a reward of 20,000 yuan.

For industrial enterprises with prime operating revenues reaching different levels at above 100 million yuan for the first time, rewards shall be given according to the situation of the local retained part of the taxes paid by enterprises in the current year exceeding the tax revenue of the previous year.

(II) Summary of Preferential Tax Policies in the Policy Measures of the Fangchenggang Municipal People's Government on Supporting the Development of Taiwan-funded Enterprises

As of December 31, 2020, Taiwan (China)-funded enterprises that have newly launched industrial projects in line with the National Catalogue of Encouraged Industries for the Great Western Development shall pay their reduced enterprise income tax at the preferential rate of 15 percent by 2020 and be exempted from the local sharing part of the enterprise income tax, and the effective tax rate shall be 9 percent.

By December 31, 2020, the preferential policy of the additional pre-tax deduction for R&D expenses shall be implemented for small and medium-sized sci-tech Taiwan (China)-funded enterprises. Where the R&D expenses have not been included in the current loss and profit as intangible assets, another 75 percent of the amount of R&D expenses actually incurred shall be deducted before tax payment from the amount of taxable income in addition to the deduction as prescribed to the extent of the amount actually incurred. Where any intangible assets are formed, 175 percent of the costs of the intangible assets shall be amortized before tax payment.

(III) The Interim Measures of Fangchenggang City on Rewards for Supporting the Upgrade of Industrial Enterprises' Development

For the enterprises that have prime operating revenue of more than 20 million yuan and have been included into the enterprises above designated size for the first time, the municipal financial department shall give a reward of 20,000 yuan.

For industrial enterprises with prime operating revenues reaching different levels at above 100 million yuan for the first time, rewards shall be given according to the situation of the local retained part of the taxes paid by enterprises in the current year exceeding the tax revenue of the previous year.

(IV) Summary of Policies for Financial Support in the Interim Measures of Fangchenggang City on Rewards for Supporting the Upgrade of Industrial Enterprises' Development

For the enterprises that have prime operating revenue of more than 20 million yuan and have been included into the industrial enterprises above designated size by the statistics department for the first time, the municipal financial department shall give a reward of 20,000 yuan for each enterprise.

For the industrial enterprises with prime operating revenues reaching different levels at 100 million yuan, 500 million yuan, 1 billion yuan and 2 billion yuan for the first time, corresponding rewards of 50,000 yuan, 100,000 yuan and 200,000 yuan shall be given according to the situation of the local retained part of the taxes paid by enterprises in the current year exceeding the tax revenue of the previous year. The rewards shall be borne by the financial departments of the city and county (city and district) according to the tax sharing proportion. If the local retained part of the taxes paid by the enterprises in the current year exceeds the tax revenue of the previous year and is less than the above reward amounts, it shall be rewarded according to the actual excess amount.

The profitable enterprises with prime operating revenue exceeding more than 3 billion yuan shall be recommended to participate in the selection of strong and excellent enterprises of the Autonomous Region.

The profitable enterprises with prime operating revenue exceeding more than 1 billion yuan shall be granted the title of municipal strong and excellent enterprises upon evaluation and approval.

The profitable enterprises reaching a new height for two consecutive years and more shall be granted the title of municipal growing enterprises.

(V) Summary of Policies for Financial Support in the Management Methods of Fangchenggang City on Special Support and Incentive Funds for the Industry of Renewable Resource Comprehensive Utilization

Requirements for support: ① The development of renewable resource comprehensive utilization projects shall conform to the national industrial policy and land supply policy and planning, and meet the requirements of environmental protection, energy saving and safety. For the new scrap steel processing and distribution enterprises, it is required that the annual scrap steel processing capacity must be more than 150,000 tons, the factory area shall be not less than 30,000 square meters, and the hardening area of the working site shall be not less than 15,000 square meters. For the reconstructed and expanded scrap steel processing and distribution enterprises, it is required that the annual scarp steel processing capacity shall reach more than 100,000 tons, the factory area shall not be less than 20,000 square meters, and the hardening area of the working site shall not be less than 10,000 square meters. 

② For projects conducting the renewable resource comprehensive utilization, independent registered companies shall be set up in Fangchenggang City, with a registered capital of 100 million yuan and a total investment of more than 100 million yuan. For renewable resource comprehensive utilization enterprises meeting the above requirements, the government shall support the development of green credit, and assists qualified renewable resource enterprises in raising funds through listing, issuing corporate bonds and bills and other channels. The municipal government shall also support the development and growth of enterprises, and its relevant departments shall actively apply to the higher authorities for special funds to support enterprises in terms of expanding production capacity, investment in technological transformation, upgrading of equipment, energy conservation and environmental protection. The municipal finance bureau shall set up "Special Support Funds for the Renewable Resource Comprehensive Utilization Industry", and gives rewards to enterprises according to their financial contribution. In principle, the rewards shall be allocated quarterly and settled at the end of the year.

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Keyword: Guangxi-policy

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