The government aims for overall economic development that encourages and investment in emerging industries. The difficulties companies encounter in acquiring land for industrial use must also be resolved to facilitate the process.
Tax Status 1.The maximum business income tax rate is 25%, while the maximum consolidated (person) income tax rate is 40%. After the implementation of the taxes integration system since January 1,1998, the business income tax paid by a company may be deducted from the consolidated income tax payable by its individual share holders. 2.The average nominal tariff rate for all imported goods is 8.2% with the average rate for industrial products of 6.03% and for agricultural products, 20.02%. 3.Value-added tax rate : 5% 4.Commercial harbor construction fee : All imported and exported products are subject to a commercial harbor construction fee at the rate of 0.3% of the assessed value. All imported and exported products are subject to a commercial harbor construction fee at the rate of 0.3% of the assessed value.
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