Legislation roundup: R&D expenses, foreign-funded banks and collective bargaining in Guangdong

Taxation

State Administration of Taxation, Circular on Policy Issues Relevant to the Pre-tax Super-deduction of Research and Development Expenses

国家税务总局关于研究开发费用税前加计扣除有关政策问题的通知

According to the Circular, corporate research and development expenses that fall within the scope of pre-tax super-deduction include: contributions made to insurance premiums, such as basic old-age insurance premiums and basic medical insurance premiums of employees directly engaged in research and development activities, expenses for the repair and maintenance of instruments and equipment used exclusively for research and development activities; clinical trial expenses for the research and manufacture of new pharmaceuticals; and expenses for the expert evaluation of research and development achievements.