Hong Kong, State Council Announces Transitional Preferential Policies for Corporate Income Tax

The State Council has recently issued a circular on the transitional preferential policies for corporate income tax. According to the circular, following the implementation of the new Corporation Income Tax Law on 1 January 2008, enterprises entitled to lower tax rates under the old law will be given a five-year grace period before they are required to pay the statutory rate. Click on the link for complete article