March 30, 2018 / 7:01 AM / 4 months ago

China introduces tax reductions, exemptions for semiconductors

BEIJING, March 30 (Reuters) - China’s finance ministry said on Friday it had updated tax rules for semiconductors, making certain chips tax exempt for a period of five years.

The new tax rules are effective from January 1, 2018.

Production lines that involve chip sizes that are less than 65 nanometres and have an investment of over 15 billion yuan ($2.39 billion) will qualify for the exemption.

Some production lines involving sizes of less than 130 nanometres will also qualify.

China has promoted an aggressive investment policy for semiconductors and plans to be a global leader in the industry by 2030.

$1 = 6.2687 Chinese yuan Reporting by Cate Cadell; Editing by Himani Sarkar

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