Tax seminar on Taxation Rules and Subsidies for High and New Technology Enterprises (HNTEs) (24 March 2017)

On 24th March 2017, John Poon, Tax Services Director at Mazars Hong Kong and Oscar Chow, Senior Manager of Tax Services at Mazars Hong Kong presented a tax seminar to the members of the European Union Chamber of Commerce in China on the topic of “Taxation Rules and Subsidies for High and New Technology Enterprises (HNTEs)”.

For the sake of benefiting the science and technology enterprises, especially those small and medium-sized enterprises, the PRC government has constantly forged and clarified the High and New Technology Enterprise (HNTE) policies since 2008. Regarding the HNTE policies, the Ministry of Science and Technology (MST), Ministry of Finance (MOF) and State Administration of Taxation (SAT) had refined the assessment criteria and administrative matters for the policy and released a mutual Notice of the Amended <Administrative Measures for Assessment of High and New Technology Enterprises> (Guokefahuo [2016] No.32) on 29 January 2016.

In view of this, John and Oscar explained the different aspects of HNTEs and also shared their knowledge and experiences regarding the best practices of HNTEs at the seminar. Their presentation gave the participants a better understanding of the taxation rules and subsidies for HNTEs.

In this seminar, John Poon, our Tax Director covered:

  • Introduction of HNTEs Tax preferential treatment for HNTEs, including the new Corporate Income Tax (CIT), Value-Added Tax (VAT) and Individual income tax (IIT)
  • Subsidies provided for HNTEs
  • Assessment criteria of HNTEs
  • Assessment procedure of HNTEs
  • Follow-up administration, tax and science commission requirement
  • Experience sharing