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China Extends Preferential Tax Polices for Circuit Manufacturers and Software Developers

The current preferential enterprise income tax policies on offer to manufacturers of integrated circuits (IC) and software developers are to be continued and extended to all similar China-based businesses, including those under overseas ownership. The move follows a directive issued by the State Council in the wake of its 8 May Executive Meeting.

In more specific terms, the meeting resolved that IC production enterprises / projects will be entitled to tax concessions of either complete exemption in years one-to-two followed by a 50% reduction in years three-to-five or complete exemption in years one-to-five followed by a 50% reduction in years six-to-ten in accordance with the pertaining conditions. In the case of IC design businesses / software developers, they will continue to be entitled to a complete exception in years one-to-two followed by a 50% exemption for years three-to-five, as originally mandated by the State Council back in 2011.

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

Li Keqiang Chairs Executive Meeting of State Council

Content provided by Picture: HKTDC Research
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