Tax breaks for cartoon producers
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The first batch of a hundred companies engaged in producing cartoons and other animation works, from 23 provinces, regions and municipalities, were certified and recognized as key players in the Chinese cartoon and animation industry by the Ministry of Culture, Ministry of Finance, and the State Administration of Taxation (SAT) last week in Beijing.
Selected from about 400 candidates across the nation, these companies, each with a registered capital of at least 10 million yuan (US$1.47 million) and including producers of such popular characters as Blue Cat, Monkey King and Big Grey Wolf, will be exempt from at least six types of taxes this year, according to Tan Heng, an official with the SAT.
However, they are subject to an annual scrutiny for the exemptions to continue. China has more than 5,000 companies producing cartoons, comics, movies, TV series, online games, and related merchandise.
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