China has issued new rules that simplify R&D accounting for companies and substantially increase the scope of deductible expenses, in an effort to encourage more research and innovation in the country.
R&D tax breaks ease corporate burdens
New rules expand tax super-deductions to all R&D-related expenses including outsourcing fees and simplify guidelines with a negative list. Companies no longer need approval and can expect fewer negotiations with authorities
By
Katherine Jo
& clp articles