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Firms see bumps tapping R&D grants
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AROUND 39 percent of technology companies in China still face difficulties in tapping various incentives the government gives for research and development despite a pledge to facilitate innovation, PricewaterhouseCoopers said in a report yesterday.
PwC said poor coordination between different departments within companies and unfamiliarity with related policies may have caused them problems in obtaining the grants.
“China now has more R&D related incentives compared with many other countries, giving firms cash grant, preferential tax rate, and tax reliefs,” said Peter Ng, PwC China and Hong Kong Tax Leader.
But Roger Di, leader of PwC China Research and Development Incentive Service, said that “in practice, we found insufficient enjoyment of these cost-reducing and innovation-boosting incentives.”
PwC quoted media reports as saying that only 31,000 of the 79,000 new technology enterprises in China have obtained relevant tax relief granted for such companies.
PwC China R&D Incentive Website, www.pwcrd.com, offers free and convenient services for companies to evaluate their research and development schemes. Companies using the website will receive a preliminary assessment within 24 hours after answering an online questionnaire, PwC said.
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