China Advances Enhanced Tax Deduction Policy for R&D Expenses
30 September 2021
Business Advisory Unit, HKTDC Research
The State Taxation Administration recently issued an announcement on the policy of enhanced tax deductions for expenditure incurred in qualifying R&D activities. When completing tax returns for prepayment of third-quarter enterprise income tax, enterprises may opt to enjoy the preferential policy of enhanced deductions based on their R&D expenditure in the first three quarters.
- Mainland China