A tax boost for corporate R&D policies

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clpstaff &clp articles

The release of a tax notice expanding the scope of R&D expenses that are eligible for super deductions shows the government's desire to encourage innovation. Companies should ensure all information concerning its R&D projects is up to date and ready to file

ON September 29 2013, the Ministry of Finance (MOF) and the State Administration of Taxation (SAT) jointly released the Circular on Policy Issues Relevant to the Pre-tax Super-deduction of Research and Development Expenses (关于研究开发费用税前加计扣除有关政策问题的通知) (Caishui [2013] No 70) to supplement the scope of R&D expenses which are able to enjoy a super deduction for CIT purposes. The Notice takes retroactive effect from January 1 2013.

 

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