China Announces Tax Exemptions, Entices Companies Like Apple To Stay

It is no secret that that huge tech companies can bring in a lot of money to countries that they operate in, along with other things that could also improve a country’s status, such as job opportunities. This is why it doesn’t come as a surprise that countries such as China are eager for tech giants such as Apple to remain in the country and to expand their operations.

In a report from The New York Times (via 9to5Mac), it seems that the Chinese government has announced a tax break for foreign companies operating in the country, retroactive from the 1st of January, 2017. However not all companies will be exempt and that to qualify for a tax break, they need to reinvest the money they make into an approved sector, including technology, railways, agriculture, and mining.

Interestingly enough China isn’t the only country trying to entice tech companies like Apple to stay and invest in the country. Back home in the US, President Donald Trump also offered Apple tax breaks to encourage them to build their iPhones in the US (a lot of Apple’s manufacturing partners are based in Asia, like China or Taiwan).

Even some of Apple’s partners, like TSMC, have announced plans to shift some of their operations to the US.

Tyler Lee
Categories: Apple, General
Tags: China, Legal