Tax Incentives for Export-oriented and High-tech FIEs Sample Clauses

Tax Incentives for Export-oriented and High-tech FIEs. In the wake of the expiration of the legal term for reduction and exemption, export-oriented FIEs, whose export value reaches or surpasses 70% of the total production of a tax year, are allowed a 50% reduction of XXXX. In the case when the tax rate goes below 10% subsequent to the 50% reduction, a 10% will apply. High- tech FIEs can be titled a 50% reduction of XXXX for another three-year period after the expiry of the five-year tax exemption/reduction period. If the tax rate goes below 10% subsequent to the 50% reduction, a 10% rate will apply.