The State Administration Of Taxation Issued A New Guide To "Double Creation" Tax Incentives

Recently, the State Administration of Taxation issued a new version of the "double creation" preferential tax policy guidelines. The new guidelines have collected 89 preferential tax policies and measures that have been launched in the main links and key areas of innovation and entrepreneurship as of June 2019, covering the entire life cycle of enterprises from start-up to development. Among them, there are 78 tax incentives since 2013.

In the growth period of enterprises, tax incentives include five aspects: R & D cost plus Deduction Policy, accelerated depreciation policy of fixed assets, purchase of eligible equipment tax preferences, tax incentives for spanformation of scientific and technological achievements, and preferential tax incentives for scientific research institutions and innovative talents. The preferential tax policies for enterprises in the mature period include: high and new technology enterprises reduce enterprise income tax by 15% tax rate; employees' education funds are deducted according to the 8% enterprise income tax; the hi-tech enterprises and small and medium-sized high-tech enterprises extend their losses to 10 years; the advanced technology service enterprises reduce the enterprise income tax by 15%.

The State Administration of Taxation said that the tax department will continue to deepen the reform of the "discharge service", and constantly innovate service initiatives to ensure that the "double creation" preferential policy is more convenient and smooth.