China expands tax breaks for service outsourcing sector

%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20will%20extend%20tax%20breaks%20to%20outsourcing%20service%20providers%20in%20more%20cities%20as%20part%20of%20attempts%20to%20boost%20service%20trade%2C%20the%20Ministry%20of%20Finance%20said%20Monday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EService%20firms%20with%20advanced%20technology%20in%2010%20cities%2C%20including%20Shenyang%2C%20Urumqi%2C%20Qingdao%20and%20Ningbo%2C%20will%20have%20their%20corporate%20income%20tax%20lowered%20from%2025%20percent%20to%2015%20percent%2C%20from%202016%20to%202018%2C%20the%20ministry%20said%20in%20a%20statement.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EMeanwhile%2C%20the%20firms%27%20staff%20education%20expenses%20will%20be%20tax-deductable%20as%20long%20as%20they%20account%20for%20no%20more%20than%208%20percent%20of%20total%20wages%2Cthe%20statement%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20move%20is%20additional%20to%20existing%20tax%20breaks%20that%20apply%20to%20similar%20firms%20in%2021%20other%20cities.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20Chinese%20government%20has%20vowed%20to%20speed%20up%20service%20trade%20development%20to%20optimize%20foreign%20trade%20structure%2C%20foster%20new%20growth%20and%20increase%20employment.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%27s%20service%20trade%20rose%2024%20percent%20year%20on%20year%20to%203.5%20trillion%20yuan%20%28511.6%20billion%20U.S.%20dollars%29%20in%20January-August%2C%20continuing%20the%20trend%20for%20double%20digit%20growth%20since%20the%20start%20of%20the%20year.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%28China.org.cn%29%3CBR%3E%3C/FONT%3E%3C/P%3E