The Ministry Of Finance And The State Administration Of Taxation Issued A Document: Making Clear The Income Tax Policy Of Shanghai Free Trade Zone.

< p > according to the notice, the enterprises registered in the pilot area will generate "a href=" http://www.91se91.com/news/index_cj.asp "assets valuation < /a > value added due to the reorganization of assets such as non monetary assets and foreign investment. The income from the pfer of non monetary assets can be classified into the corresponding taxable income in the corresponding year in a period not exceeding 5 years, and the enterprise income tax shall be calculated according to the provisions.

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< p > enterprises should invest abroad in non monetary assets. They should confirm the realization of non monetary assets pfer income when the investment agreement comes into force and the actual assets are delivered and the registration procedures are registered.

The tax base for acquiring shares should be based on the original tax base of non monetary assets, plus the annual income pferred from non monetary assets, and be adjusted annually.

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< p > enterprises should pfer the above shares or investment recovery within 5 years of foreign investment. They should suspend the implementation of the deferred tax less than a href= "http://www.91se91.com/news/index_q.asp" > policy < /a >, and pfer the proceeds from non monetary assets that have not been included in the postponement of the delay, and pay the enterprise income tax once and for all when the pfer of the right of share or the year of the enterprise income tax is repaid.

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< p > according to the notice, the enterprises registered in the pilot area refer to the resident enterprises that register in the experimental area and operate in the area and carry out audit collection.

The so-called "non monetary assets" foreign investment and other asset reorganization activities refer to the establishment or injection of non monetary assets into the company, limited to the establishment of new companies with non monetary assets, and the acquisition and acquisition of assets in accordance with Article 1 of the Circular of the Ministry of Finance and the State Administration of Taxation on the handling of enterprise income tax on enterprise restructuring.

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< p > recently, the media published the report entitled "Tianjin, Zhoushan, Guangdong" or the second batch of < a href= "http://zs.sjfzxm.com/" > Free Trade Zone < /a > option.

At present, the market will generally interpret the impact of the FTA on ports, but Haitong Securities believes there are still some uncertainties to be discussed and considered.

First of all, the port industry chain has been expanded and the service level has been improved. However, under the same competition pattern, the improvement of profitability will be relatively limited.

Secondly, if the rules and regulations of a port benefiting from the FTA are promulgated and implemented (such as the implementation of the tax rebate policy in a wide range of ports), the volume diversion of adjacent ports may lead to vicious competition, resulting in a decline in profits, and the ports belong to the local SASAC, and the coordination pressure of the central functional departments will be very great.

Finally, some FTA locations are more sensitive, and the impact on the adjacent regions is still hard to assess.

From the China (Shanghai) FTA program, they tend to think that the FTA's short-term contribution to the performance of listed port companies is limited. At present, the port company's share price is mainly based on the "valuation" brought about by the good expectations of the FTA, which is still a thematic investment opportunity on the whole, and it is suggested that investors should participate appropriately.

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