The Measures set forth the criteria for recognition as a hi-tech enterprise. After obtaining qualifications as a hi-tech enterprise, the enterprise is entitled to tax reduction or exemption.
Earlier this year the Ministry of Science and Technology, the Ministry of Finance and the State Administration of Taxation issued a circular containing new Measures on HNTE Recognition. These measures, along with a Catalogue of supported industries, detail HNTE recognition requirements and necessary administration procedures under the PRC Enterprise Income Tax Law.
The Circular clarifies three issues arising after the abolition of several preferential tax policies previously available to foreign-invested enterprises and foreign enterprises.
Vice Chairperson of the Mainland Affairs Council Liu Te-shun (LTS) spoke with Chris Bisogni (CB) and shared his thoughts on the development of cross-straits economic ties and what the Taiwanese people can expect as a result of Ma Ying-jeou's victory in the recent election.