November 30 2018

Shanghai Announces Measures to Support High-tech Enterprises

Announcement was made by Shanghai municipal government

Shanghai municipal government released on November 22, 2018 the Opinions about Accelerating the Development of High-tech Enterprises in Shanghai. The document proposed a raft of measures to support high-tech firms, including cutting taxes and reducing burdens.

According to the document, the city will implement existing preferential tax policies granted to high-tech companies to reduce their business cost. High-tech firms and tech-based small and medium-sized firms are allowed to carry forward losses for ten years. Scientific researchers are encouraged to commercialize their research achievements, and stock options awarded to them can be eligible for installed or deferred payments of individual income tax.