China woos BPOs with sops, blow for India
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The five per cent operating tax exemption will run from July 1 this year until December 31, 2013, the Chinese government said.
The 21 cities covered are Beijing, Tianjin, Dalian, Harbin, Daqing, Shanghai, Nanjing, Suzhou, Wuxi, Hangzhou, Hefei, Nanchang, Xiamen, Ji'nan, Wuhan, Changsha, Guangzhou, Shenzhen, Chongqing, Chengdu and Xi'an.
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Image: China woos more BPOs.
China woos BPOs with sops, blow for India
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Those already taxed on offshore service outsourcing income since July 1 would be refunded within this year, the official Xinhua news agency quoted the statement as saying.
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Image: A BPO in China.
China woos BPOs with sops, blow for India
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Last month, accounting firm KPMG had said China had overtaken India as the primary destination of outsourcing and shared services for Asia-Pacific companies after netting business to the tune of $20 billion.
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Image: Chinese currency.
Photographs: Reuters.
China woos BPOs with sops, blow for India
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"Though, at the moment, the country has still not reached the level of maturity seen in India, the growth of China's outsourcing market is significant. Many Western companies may still see India as their location of choice, but for executives within Asia Pacific the message is clear - China is now leading the way," Edge Zarrella, global head, IT Advisory, KPMG China, was quoted as saying.
Image: Setback for India.
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