China Extends R&D Tax Incentives
During a meeting of China's State Council on 21 October 2015, it was announced that the tax concession for technology transfers will be expanded to cover nonexclusive licensing of technology. The incentive grants a taxpayer an enterprise income tax exemption on the first RMB 5 million in profit from licensing with a 50% reduction in tax on profits exceeding that amount. Technology qualifying fo…
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