Preferential Policies
...e during the year After verification as such, a newly built software enterprise may be exempted from its corporate income tax for the first two years since the profit-making year and enjoy half reduced corporate income tax during the three years that ensued. Before 2010, the actual VAT amount in excess of 3% shall be collected from and then refunded to the enterprise. For an IC manufacturing enterprise, the actual VAT amount in excess of 6% shall be collected and then refunded to the enterprise before 2010. An enterprise may be exempted from customs duties and import-related VAT for importation of e-equipment necessary for its own use and accompanying technologies (including software), accessories and spare parts for an amount less than its total investment, provided that the imported items fall in the encouraged or restricted categories of projects provided with in the Guiding Project Categories for Foreign Investment. Financial Policies The park shall grant certain financial subsidies to hi-tech projects in the park, such as the subsidies for the project construction, subsidies for R&D center, subsidies for loan interest. Ningbo Hi-tech Park will provide assistance for the enterprises to...