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China announces Film Sector tax breaks
Zone(s): China ¦ Sector(s): Films, Taxation
[27 June 2014, Tax-News.com] By Mary Swire, Tax-News.com, Hong Kong: The Chinese Ministry of Finance has announced a package of supportive tax measures for domestic film-makers and distributors.Under the plans, income from the dissemination of Chinese films to rural areas would be exempt, including income from the transfer of intellectual property rights and fees for distribution.
Similar tax breaks for film distribution are proposed for town and cities in China, and in particular in the west of the nation, where the market is already mature.
The Ministry said that the measures would enhance the overall strength and competitiveness of Chinese film studios.