Financial Development Incentives of Yuzhong District
来源:区党政信息中心   作者:区党政信息中心   点击数:220   日期:2009-10-09   字体:【
Financial Development Incentives of Yuzhong District
Ref (2008)08
 
4 March 2008
 
In order to shape a sound financial environment; promote further financial development and endeavor to build Yuzhong District into a core financial area in upper reaches of Yangtze, the Incentives are formulated as being based on the “Resolutions of Chongqing Municipal Government for Accelerated Development of Financial Development” and the “Circular on the Details of Implementation of Financial Development Incentives” issued by Yuzhong District Government. The detailed provisions are as follows:
 
1.     Policies and Measures
 
1)     In the event of financial headquarters, regional headquarters, municipal financial agencies and banking supervision department making first-time purchase of offices for their own use, a one-off RMB1,000 Yuan subsidy shall be provided for each square meter of floor space; the financial institution who is granted the subsidy shall not rent its offices to others in 5 years.
 
2)     In the event of financial headquarters, regional headquarters, municipal financial agencies and banking supervision department making first-time purchase of offices for their own use, and having paid off the deed tax within 1 year after the purchase, the deed tax shall be subsidized in full amount.
 
3)     In the event of newly established or moved-in financial headquarters, regional headquarters and municipal financial agencies renting offices within Jiefangbei CBD for their own use, an annual RMB200 Yuan subsidy shall be provided for each square meter of floor space for 3 years starting from the date of establishment.
 
4)     Newly established or moved-in financial headquarters, regional headquarters and municipal financial agencies shall receive back each year 20% of the district portion of its paid Business Tax and Corporate Income Tax for the first 3 years starting from the date of establishment; 30% of the paid back amount shall be used as an award to the management of the institutions. Newly established financial agencies below municipal level shall receive back each year 10% of the district portion of its paid Business Tax and Corporate Income Tax for the first 3 years starting from the date of establishment; 60% of the paid back amount shall be used as an award to the management of the institutions.
 
5)     Newly established or moved in financial headquarters, regional headquarters, municipal financial agencies including their subsidiary or branch {excluding institutions covered by the above Item 4)} contributing Business Tax and Corporate Income Tax to the District up RMB1.00 million Yuan or above in a year shall receive back 3% of the district portion of its paid VAT, Business Tax and Corporate Income Tax as an award to the management of the institutions. In case of an increase of contributions to the District in a year, 20% of the increase which goes above 10% increase shall be used as an award to the management of the institutions.
 
6)     Senior managers of financial headquarters, regional headquarters, municipal financial agencies and banking supervision department purchasing merchant houses within Yuzhong District shall receive a subsidy against deed tax in full amount for 1 house.
 
7)     Senior managers of financial headquarters, regional headquarters, municipal financial agencies and banking supervision department shall enjoy a quality education and medical service, which will be made available through government co-ordination, as per the attached “Medical Service Provisions for Senior Managers of Financial Institutions in Yuzhong District” and the “Schooling Provisions for Children of Senior Managers of Financial Institutions in Yuzhong District”.
 
8)     Financial institutions in Yuzhong District who make outstanding contributions to the economy or taxation of the District may receive special support on a case to case basis.
 
2.     Subsidy and Award Qualifying, Assessment and Submission Procedure
 
1)     The financial headquarter referred to in this Document means a headquarter of financial institution with independent legal entity; regional headquarter means a Chongqing based independent business headquarter affiliated with a legal entity, being responsible for its subsidiaries or branches in neighboring provinces or cities; municipal financial agency means a non corporate entity, being responsible for its business operation within the territory of the city, as well as for the subsidiaries and branches. The above institutions or agencies must be registered with Administration of Industry & Commerce and Taxation Bureau of Yuzhong District.
 
2)     Senior managers of financial institutions referred to in this Document means the legal representative of municipal financial institutions or above as qualified by the state finance supervision department, and also means the important management personnel with decision-making rights on business operation and risk control, including board chairman, vice board chairman, supervisory officer, president, vice-president, general manager and vice-general manager.
 
3)     Financial institutions who are entitled to the subsidy or award shall submit an application in January of the next year to Yuzhong District Finance Office; failure to submit the right application before the deadline shall be regarded as a waiver, no further application shall be accepted.
 
4)     The subsidy and award shall be based on the portion of paid tax which is retained by the District government, viz, 40% of the paid Business Tax and 16% of the Corporate Income Tax would be held by the District. The taxpaying is calculated based on fiscal year, i.e. 1 January to 31 December of a year.
 
5)     In case that the calculated time of financial institutions who are entitled to the subsidy or award is less than 6 months, the calculation shall be effected in the next whole year; in case that the calculated time of financial institutions who are entitled to the subsidy or award is more than 6 months but less than 1 year, the calculation shall be effected in current year.
 
6)     Financial institutions receiving the subsidy or award shall submit following documentation:
 
l  Application Letter for Subsidy or Award
l  Taxpaying Calculation Sheet
l  Copies of Business Tax / Corporate Income Tax Payment Certificates, Drawback Certificates in the Base Year and Assessment year; copies of Taxation Audit / Approval Documents
l  Copies of House Purchase Contract registered with Housing Transaction Office; Deed Tax Payment Certificate
l  House Rental Contract
 
In case of newly established or moved in financia
Copyright All right reserved YuZhong Distinct, ChongQing, China