According to the document released by the Ministry of Finance and State Administration of Taxation, the policies include the adjustment of value-added tax,


　　The document stipulates corporate taxpayers in equipment manufacturing, oil and petrochemical sectors, metallurgical and ship-building and auto sectors and farm produce processing industry might use the amount of the new value-added tax to cover designated taxes. That include taxes on their purchased fixed assets, goods to be made by the taxpayer as fixed assets, labor services or fees paid for shipment of fixed assets.


　　With approval of provincial governments, a deduction of no morethan 30 percent of the amount of resources tax to be paid is applicable to oil fields with low oil abundance or mines with little exploitable mineral resources, according to the document.


　　The corporate income tax policies include no more than 40 percent drop in period of depreciation of fixed assets of manufacturing companies in northeast China, excluding houses and structures, and of intangible assets that were bought or invested.


　　The amount of salary that is tax exempt is 1,200 yuan(146 US dollars), compared with 800 yuan(nearly 100 US dollars) for otherareas in China.