Huai'an China News and Events
A Substantial Increase in the Reduction and Exemption of Science and Technology Tax in Huai'an
time:2019-08-15

Since the beginning of 2019, income tax reduction and R&D cost deduction of high-tech enterprises in Huai'an amounted to 852 million yuan, a total amount of income tax reduction and exemption for enterprises in the tax year of 2018, an increase of 53.5%. This policy benefits 474 enterprises, 22.8% more than last year. Among them, 122 enterprises are eligible forthe income tax reduction and exemption of 431 million yuan, up 17.3% and 39.5% year on year respectively. The income tax reduction and exemptionresulted from R&D cost deduction of 352 enterprises totals 421 million yuan, up 24.8% and 109.5% year on year respectively.

Since 2017, Huai'an has focused its attention to the action plan for industrial science and technology innovation, and the cultivation of high-tech enterprises by making preferential policies such as "Twenty Policies for Innovation in Huai'an", "Twenty Suggestions for Science and Technology Reform in Huai'an", etc. These policies help to enhance the subjectivity of enterprises in technological innovation. Moreover, great importance is also attached to the realization of these incentive policies for scientific and technological innovation, thus enhancing enterprises' confidence in the innovation environment in Huai'an.