Recently, we have Hainan free trade port tax and new offshore international trade, QFLP/QDLP, trade settlement facilitation and other characteristics of the financial policy to sort out.
Zero tariff
As for the implementation of "three positive and one negative list management," Hainan FTTP is exempted from import tariffs, import link value-added tax and consumption tax on raw and auxiliary materials, transportation and yachts, and production equipment for self-use in the FTTP.
According to the Customs and Excise Department's supervision of the Yangpu Free Trade Zone, the goods produced by enterprises in the encouraged industries in the zone that do not contain imported materials or contain imported materials with value-added processing of more than 30% in the Yangpu Free Trade Zone are exempted from import tariffs when they are sold inside or outside the zone.
Enterprise income tax
, registered in the Hainan Free Trade Port and substantive operation of the encouragement of industrial enterprises, a reduction of 15% enterprise income tax. At the same time supporting the issuance of "Hainan Free Trade Port Encouraged Industries Catalog", in the country's existing encouraged industries catalog on the basis of an increase of 14 categories of industries, 143 subsectors, basically covering the construction of Hainan Free Trade Port of the key industries and fields.
Personal income tax
The part of personal income tax burden exceeding 15% will be exempted for high-end talents and talents in short supply working in Hainan Free Trade Port.
Free Trade Harbor innovative policies
1, new offshore international trade
Since the construction of the free trade port, Hainan's new offshore international trade is developing rapidly. This year only January to February, Yangpu offshore trade settlement volume has reached 1.072 billion U.S. dollars.
Hainan to build a regional new offshore international trade center, introduced a package of support policies. On the support of Hainan to carry out new offshore international trade foreign exchange management notice "on the clear free trade account to support the development of Hainan's offshore economic and trade business related matters notice" clearly support the development of offshore business, Hainan is the only province in the country by the People's Bank of China and the foreign exchange administration of the two departments have issued a letter of support; new offshore international trade is also included in the scope of the directory of industries to encourage enterprises to enjoy the 15% preferential tax rate for income tax. Income tax rate.
2. QFLP and QDLP
In October 2020, the Provincial Local Financial Supervisory Bureau and other departments jointly issued the "Interim Measures for Carrying out Domestic Equity Investment by Qualified Overseas Limited Partners in Hainan Province"; and the "Interim Measures for Carrying out Pilot Work of Overseas Investment by Qualified Domestic Limited Partners in Hainan Province" was issued in April 2021, which marked the official opening of cross-border two-way investment and financing channels in Hainan, and helped promote Hainan's free trade. Formally opened, for the promotion of Hainan free trade and investment freedom and facilitation, to attract domestic and foreign capital in Hainan cross-border investment has laid a good foundation.
At the same time, "Hainan Free Trade Port Encouragement Industry List", the cross-border investment and financing two-way open service system construction into the list, enjoy a reduction of 15% enterprise income tax policy. Favorable policies superimposed on tax advantages will attract a large number of funds or fund managers to register.
The main features of Hainan's QFLP policy are:
1, registration is simple and efficient
, there is no joint review mechanism;
2, the lowest threshold of access in the country
, the registration of QFLP enterprises without a minimum threshold of access;
3, no differentiation between domestic and foreign capital
, the same requirements for both domestic and foreign QFLP Management Enterprises, reflecting the principle of fairness;
4. Negative list management of foreign investment
, by adopting an exceptional approach to reserve space for QFLP funds to invest in secondary market stocks and carry out corporate bond trading of some of the investment targets, better than the negative list of Shanghai, the first of its kind in the country;
5. The greatest strength of preferential policies
, from personal income tax, supporting incentives and park landing incentives and other aspects of the list of preferential policies.
The main features of Hainan's QDLP policy are:
1, the lowest registered capital requirement
, the registered capital of the pilot management enterprise is not less than RMB 5 million;
2, the lowest shareholders' qualification requirements
, the controlling shareholders of the pilot management enterprise in the last 1 year have not been subjected to the location of the regulatory agencies of major penalties;
3. The most explicit investment scope of the fund
. The scope of overseas investment of the pilot fund made a clear enumeration of provisions, can be invested in overseas secondary markets, unlisted enterprises and financial derivatives and other areas;
4, quota application restrictions at least
. Within the scope of the total amount of the pilot in Hainan, there is no quota limit for individual pilot fund management enterprises and pilot investment projects;
5. Flexible transfer of investment quota
QDLP pilot enterprises to implement balance management of foreign investment quota, and the pilot fund management enterprises can initiate the establishment of a number of pilot funds, and can be established in the flexibility of the establishment of each fund between the transfer of a single pilot fund of foreign investment quota, each single pilot fund of foreign investment quota The sum of the external investment quota of each single pilot fund shall not exceed the external investment quota of the pilot fund management enterprise approved by the relevant units of the pilot.
At present, Hainan's QDLP foreign investment pilot, approved pilot investment amount of 5 billion U.S. dollars.
According to the Circular on the Pilot Work of Trade Foreign Exchange Receipt and Payment Facilitation by the Hainan Branch of the State Administration of Foreign Exchange, banking institutions are implementing more convenient measures when handling trade receipts and payments for QDLPs.
Pilot banks can optimize the audit of trade foreign exchange receipts and payments documents and simplify the import declaration verification. Pilot enterprises are exempted from the registration procedures for special foreign exchange return business for trade in goods. Further promote cross-border trade in goods, trade in services and new international trade settlement facilitation.
The All-China Mergers and Acquisitions Association (ACMA) is a non-profit private industry association approved by the All-China Federation of Industry and Commerce (ACFIC) and registered by the Ministry of Civil Affairs (MCA) in 2012. It is headquartered in Beijing, and its administrative unit is the All-China Federation of Industry and Commerce (ACFIC).
As the only industry chamber with financial attributes directly under the All-China Federation of Industry and Commerce (ACFIC), ACFIC M&A Association now has nearly 150 institutional members and more than 4,000 individual members, and has set up 19 committees on law, funds, standards, international, M&A rights, blockchain, credit management, financial culture, financial science and technology, and small and medium-sized enterprise investment and financing, which have been working hard to standardize the development of M&A industry, promote the deep combination of industrial and financial capital, enhance China's economic development, and improve China's economic development. The 19 committees have made positive contributions to standardizing the development of M&A industry, promoting the in-depth combination of industrial capital and financial capital, enhancing the competitiveness of Chinese enterprises, and facilitating the participation of Chinese enterprises in global M&A.
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Hainan Free Trade Port Financial Policy
Please contact
Tempo International Ms. Zheng.