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High-tech enterprises grab tax exemptions
By Gu Jialan and Fei Lai |
May 25, 2009, Monday
|
Print Edition
Print Edition
THE total tax exemption for 88 high-tech businesses in Jiading District based on their performance in 2008 is expected to reach 160 million yuan (US$23.44 million), according to the district's tax department.
All these enterprises have completed the procedure for tax reduction and exemption.
Last April, "Management Measures for Identification of High-Tech Enterprises" was promulgated by the central government with a view to support and encourage the development of high-tech enterprises.
The measures provide detailed definitions of high-tech enterprises, including key indexes of investment in research and core patent technology.
Moreover the new "Law on Enterprise Income Tax," which took effect from January 1, 2008, ruled that high-tech enterprises may qualify for a lower enterprise income tax rate of 15 percent if they independently own the core technology utilized in their business and fulfill other prescribed conditions.
As long as an enterprise has a High-tech Enterprise Certificate and a specialized auditing report from a qualified agency, it can go to tax departments in the district to deal with tax reduction and exemption procedures.
It normally takes 30 work days to completethe procedures.
All these enterprises have completed the procedure for tax reduction and exemption.
Last April, "Management Measures for Identification of High-Tech Enterprises" was promulgated by the central government with a view to support and encourage the development of high-tech enterprises.
The measures provide detailed definitions of high-tech enterprises, including key indexes of investment in research and core patent technology.
Moreover the new "Law on Enterprise Income Tax," which took effect from January 1, 2008, ruled that high-tech enterprises may qualify for a lower enterprise income tax rate of 15 percent if they independently own the core technology utilized in their business and fulfill other prescribed conditions.
As long as an enterprise has a High-tech Enterprise Certificate and a specialized auditing report from a qualified agency, it can go to tax departments in the district to deal with tax reduction and exemption procedures.
It normally takes 30 work days to completethe procedures.
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