Legislation roundup: Tax breaks for R&D and technology transfers, foreign insurance companies
November 05, 2015 | BY
Katherine Jo &clp articles &More tax deductions are available for R&D expenses, technology transfers can get exempted from enterprise income tax and insurance companies no longer require CIRC approval to set up rep offices overseas
Tax
Ministry of Finance, State Administration of Taxation and Ministry of Science and Technology, Circular on Improving the Policy of Pre-tax Super-deduction of Research and Development Expenses
The Circular expands the scope of super-deduction of research and development expenses, simplifies the administration of the pooling and accounting of research and development expenses, reduces the review procedures and adds a negative list.
See the full translation.
Further reading
Ministry of Finance and the State Administration of Taxation, Circular on Expanding the Implementation of Relevant Pilot Tax Policies of National Innovation Demonstration Zones on a Nationwide Basis
Enterprise income tax shall be exempted on the portion of the annual technology transfer income of tax-resident enterprises not exceeding Rmb5 million.
Further reading
Insurance
China Insurance Regulatory Commission, Decision on Amending the <Measures for the Administration of the Establishment of Overseas Insurance Institutions by Insurance Companies> and Seven Other Sets of Regulations
The establishment of overseas non-business representative or liaison offices by insurance companies no longer requires CIRC approval.
Further reading
Tax
Ministry of Finance, State Administration of Taxation and Ministry of Science and Technology, Circular on Improving the Policy of Pre-tax Super-deduction of Research and Development Expenses
The Circular expands the scope of super-deduction of research and development expenses, simplifies the administration of the pooling and accounting of research and development expenses, reduces the review procedures and adds a negative list.
See the full translation.
Further reading
Ministry of Finance and the State Administration of Taxation, Circular on Expanding the Implementation of Relevant Pilot Tax Policies of National Innovation Demonstration Zones on a
Enterprise income tax shall be exempted on the portion of the annual technology transfer income of tax-resident enterprises not exceeding Rmb5 million.
Further reading
Insurance
China Insurance Regulatory Commission, Decision on Amending the <Measures for the Administration of the Establishment of Overseas Insurance Institutions by Insurance Companies> and Seven Other Sets of Regulations
The establishment of overseas non-business representative or liaison offices by insurance companies no longer requires CIRC approval.
Further reading
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