Shanghai: Ningbo government has introduced a new guidance on the development of the financial leasing industry in the city.
According to the new guidance, Ningbo government will use the tax paid by the financial leasing industry to establish a special fund to subsidise and reward leasing companies. In addition, exported vessels under leasing arrangements will enjoy a VAT exemption and refund policy.
Ningbo government said the move is to lower the operating cost of leasing and make the financial leasing industry an important part of the city’s investment and financial system. [05/11/12]