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Mainland Tech Firms Gain Extended Loss Offset Entitlement

 

With effect from 1 January 2018, any mainland business accredited as a designated high new technology enterprise (or as a small/medium-sized technology company) is to be permitted to offset any losses incurred in the previous five years against the taxable income over the next ten years. This new entitlement was jointly announced in a recent circular issued by the Ministry of Finance and the State Administration of Taxation.

For further details (in Chinese), please visit the following link:

Circular on Extending the Loss Carry-Forward Period of High- and New-Technology Enterprises and Small and Medium-Sized Technological Enterprises (Cai Shui No. 76 [2018])

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