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According to the enterprise income tax law, the enterprise income tax is 33% of its income.
Considering the small enterprises with low profits, the tax law has other regulatins. If the enterprise's annual income tax is less than 30,000 yuan(including 30,000 yuan), the income tax will be collected at 18%. For the enterprises with the income tax less than 100,000 yuan(including 100,000 yuan), the income tax will be collected at 27%.
According to regulations of the enterprise income tax, the hi-tech enterprises in the hi-tech development zone approved by the state, the income tax is collected at 15%. The newly founded enterprises are free from income tax for the first two years.
On Sep.21, 2000, Laishan District released its encouragements on the newly founded enterprises.
For the first three years, the hi-tech enterprises are free from value-added tax, business tax, income tax, and from the fourth to the fifith year, the enterprises pay only 50% of the taxes.
As to the common production enterprises, if the taxes total over 500,000 yuan, a half will be returned to the enterprises as encouragement for the first year; 30% for the second year; 20% for the third year.
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