How is the cancellation procedures handled when the Representative Office terminates or winds up operation before termination?
When it is time for termination or winding up operation before termination, the Representative Office shall report to the original examining and approval department for reference through original sponsor at least 30 days before termination with the Cancellation Application Letter signed by the Chairman of the Board or General Manager of the enterprise and afterwards go through the cancellation procedures at Administration Bureau for Industry and Commerce, Public Security Bureau and Custom Office after clearing its liabilities, tax and other relevant matters. Q: What sort of tax preferential policies can foreign investors enjoy in pudong New Area? A:(1) The income tax of foreign-invested manufacturing enterprises shall be levied at a reduced rated of 15%. (2) Foreign-invested enterprises scheduled to operate for a period over 10 years shall be exempted from income tax in the first two years starting from the profit-making year and be granted a 50% reduction in the next three years. (3)
