ChinaFIG - The Municipal Government of Shenyang Encourages Investment in Mt-Qipanshan International Scenery Tourism Development Zone
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The Municipal Government of Shenyang Encourages Investment in Mt-Qipanshan International Scenery Tourism Development Zone
In order to give policy preference to Mt-Qipanshan International Scenery Tourism Development Zone, the municipal government of Shenyang established a series of encouraging policies for investment in high-tech entertainment projects, tourism projects and large cultural and entertainment facility projects.
1. Foreign invested projects with ten million dollars or more can enjoy a favorable income tax rate at 15%;
2. Joint-ventures invested in tourism projects whose cooperation period is over 10 years, can enjoy the “Exempt Two, Deduct Three” policy from their first profit-making year; If the cooperation period is over 15 years, projects of these kind will be exempt form income tax for ten years since the first profit-making year;
3. The longest land lease period is 50 years, during which land leased by investors can be transferred, rented, pledged, inherited and donated;
4. For large entertainment projects with investment of 10 million dollars, land transfer payment can be deducted by 20%; For projects with investment of 20 million dollars, land transfer payment can be deducted by 50% and business tax together with land using fee will be exempted for three years; For large entertainment projects with 100 million dollars investment and 10 million dollars or more as initial investment, the Development Zone can provide land for cooperation and will exempt these large projects from land using fee.
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