The export products produced can apply to the tax authorities for export tax exemption and refund with customs declaration and other relevant documents. In order to fulfill the product export contract, importing self-use equipment and its accessories within the total investment, or importing a reasonable amount of auxiliary materials directly used for processing export products, shall be exempted from import duties, import value-added tax and consumption tax. The purchase of domestic equipment is exempt from VAT. Productive enterprises with an operating period of more than ten years shall enjoy the tax preference of "two exemptions and three reductions" from the year when they begin to make profits. For productive enterprises, enterprise income tax is levied at a reduced rate of 24% or 15% according to the nature of the industry and the amount of investment. After the expiration of the enterprise income tax reduction or exemption in accordance with state regulations, if the output value of export products in that year reaches more than 70% of the output value of products in that year, the enterprise income tax may be levied by half (not less than 10%). After the advanced technology enterprises enjoy the preferential period of enterprise income tax reduction and exemption stipulated by the state, they will be extended for three years, and the enterprise income tax will be levied by half (not less than 10%). Foreign enterprises that transfer technology to China may apply for exemption from business tax or enterprise income tax. If the technology development expenses increase by more than 10% over the previous year, it is allowed to deduct 50% of the actual amount of technology development expenses from the taxable income of the current year. Reinvestment with enterprise profits, with an operating period of not less than 5 years, will be refunded in full or 40% of the enterprise income tax paid for the reinvested part. Penglai Economic Development Zone can not only enjoy the tax policies stipulated by the above-mentioned countries, but also return some local taxes according to the investment situation of enterprises.
Penglai Economic Development Zone gives preferential treatment to enterprises entering the zone and rewards local tax revenue according to the investment and operation conditions, and enterprises entering the zone should enjoy the tax policies stipulated by the above-mentioned countries.