Regulations on Tax Reduction Encouragement for Introduction of Industries into New Towns Article 7

After an applicant begins operating, the profit-seeking enterprise income tax credit payable of that very year may be deducted in accordance with the following provisions. In case the income tax amount of that very year is insufficient for deduction, it may be deducted within four consecutive years followed.1. For anyone who applies for the approval and issuance of the investment allowance certificate within five years from the date of announcing the allocated range as mentioned in Article 3, the profit-seeking enterprise income tax credit payable of that very year shall be deducted by 15% of the total investment.2. The above-mentioned reduction of tax will be reduced by a half where application is submitted to the authority to apply for investment allowance certificate in the sixth to the tenth year commencing from the date of announcing the allocated range as mentioned in Article 3.No preference will be offered where application is submitted to the authority to apply for investment allowance certificate since the 11th year commencing from the date of announcing the allocated range as mentioned in Article 3.