BEIJING - China will extend a tax rebate policy for digital cable TV for another three years, according to a policy package to support cultural industries released by the Ministry of Culture (MOC) on Wednesday.
The MOC issued two documents, including one on turning cultural public institutions into private enterprises, and another on supporting the development of cultural enterprises, to roll out a package of preferential policies.
Among them, digital cable service providers will be exempted from the value-added tax for another three years, and the film and animation industries will continue to enjoy preferential policies, such as paying rebated value-added tax instead of business tax.
Also eligible for tax preferences are providers of cable services to rural areas, cinemas, producers of creative cultural products and those who operate intangible cultural heritage programs.
China first issued the document on turning cultural public institutions into private enterprises in 2003, and extended the execution period for relevant policy preferences in 2008.
The MOC said that, by renewing the policy package, China has extended existing preferential policies to maintain its support of cultural industries.
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