Dongying city to reward companies going on equity markets
Quite a few tire manufacturers located in Dongying city, Shandong province, have an IPO plan. Under the latest policy of the local government, companies going public will receive fiscal rewards.
For instance, Xingyuan Tire and Wanda Tire plan to go public on the main board in the next two to three years.
According to the policy to be effective from January 1 of 2018, if a local company of Dongying city achieves listing on the bourse of Shanghai or Shenzhen, it will get a reward of 6 million yuan; if a local company goes public in a foreign country, it will get 4 million yuan.
If a local company gets listing on the National Equities Exchange and Quotations, it will receive 2 million yuan as a reward.
Local companies will also receive fiscal subsidies if they pay higher taxes due to financial sheet regularization, undistributed profits or other reasons.
Also, taxpayers can delay paying taxes if their companies need to make a supplementary payment of taxes before they go public.
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