With the approval of the State Council, the Ministry of Finance and State Taxation Administration of The People's Republic of China jointly issued the Notice on Tax Policies for Supporting the Construction and Operation of Rural Drinking Water Safety Projects (Cai Shui [2012] No.30). The "Notice" stipulates that five preferential tax policies will be given to the construction and operation of rural drinking water safety projects (hereinafter referred to as "drinking water projects").
Specifically including:
First, the land use right of the drinking water project operation management unit for the construction of drinking water projects is exempted from deed tax;
Second, the transfer of property rights signed by the drinking water project operation management unit for the construction of drinking water projects to obtain land use rights, as well as the construction project contract signed with the construction unit are exempt from stamp duty;
Third, the real estate and land used for production and office by the drinking water project operation management unit are exempted from property tax and urban land use tax;
Fourth, the tap water sales income obtained by the drinking water project operation management unit to provide domestic water to rural residents is exempt from value-added tax;
Fifth, the income from the investment and operation of new drinking water projects stipulated in the Catalogue of Preferential Enterprise Income Tax for Public Infrastructure Projects shall be exempted from enterprise income tax from the first year to the third year, and halved from the fourth to the sixth year.
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