The State Taxation Administration ("STA") and the Ministry of Finance ("MOF") released on June 21, 2023 the Announcement on Issues concerning Improving the Policy of Allowing Additional Deduction of R&D Expenses in Prepayment Declaration (No.11 document in 2023).
Starting from 2023, qualified companies are eligible for additional deduction of its R&D expenses incurred in the first half of the year in July, meaning that they can enjoy the policy three months earlier than they enjoy the same in October, according to the Announcement.