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The Implementation of Some Fiscal and Tax Policies to Further Support the Development of Enterprises and Attract Foreign Investment
(1)For the profits made by new products and patent products of state level that have been confirmed, for three years since the date of sale, the enterprises shall be exempted from business income tax;for the profits made by new products and patent products of municipal level that have been confirmed, for two years since the date of sale, the enterprises shall be exempted from business income tax.
(2)In order to attract foreign investors to set up R&D institutes in Tianjin, taking the fiscal and tax policies for the state-owned R&D institutes as reference, temporary exemption from business tax and business income tax shall be granted for the income made from technology transfer of foreign-invested hi-tech R&D institutes and the technical consultation, services and trainings concerning technology transfer during the process.The preferential business income tax policies for foreign-invested enterprises and organizations shall be carried out by way of reimbursement.
(3) For the profits realized by new products experimented in foreign-invested hi-tech research institutes, the income tax policy for new products of domestic enterprises shall prevail.
(4) In cases where investment companies in Tianjin have invested more than 25% of the capital of Tianjin hi-tech industrialization projects,the companies shall be exempted from business income tax for their share benefits;and 50% of the share benefits shall be deducted from the taxable profit of the investment companies for three years.
(5) For three years after the starting of mass production of a new product, an amount of 5% of the net profit brought by it can be extracted for rewards recorded as costs, for the encouragement of staff that have made important contribution to the development of the new product.
Fiscal and tax policies promoting foreign investment to Tianjin
(1)During the restructuring of joint ventures, if there is transfer of land use right caused by one party's selling of land and the existing real estate on the land, the transferor shall be exempted from business tax for the transfer income; and the transferee shall be exempted from contract tax for the transfer procedures of the land and the existing real estate on the land.
(2)Foreign investors establishing banks, insurance companies, law firms,accounting firms and senior consulting companies shall be exempted from contract tax for purchasing or building office space for self-use, and urban real estate tax for a year.Banks and insurance companies shall be exempted from local income tax since the profit-making year.Law firms, accounting firms and senior consulting companies shall be exempted from
business income tax for the first and second years since the opening.

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