China Enhanced Super Deduction for R&D Expenses
Tax Newsflash:November 13, 2015/China
On 3 November 2015, China’s Ministry of Finance, the State Administration of Taxation and the Ministry of Science and Technology jointly issued new guidance (Caishui  No.119 (Circular 119)) that expands the scope of the super deduction for research and development (R&D) expenses incurred by domestic enterprises and streamlines the related administrative procedures relating to the super deduction. (Tax Newsflash:November 13, 2015/China)
Circular 119, which is designed to encourage more businesses to invest in R&D, will enter into effect on 1 January 2016, and replace the current rules (i.e. Guoshuifa  No.116 and Caishui  No.70).
This newsletter explains the following topics;
(2) Major changes made by Circular 119
(3) Deloitte's comments
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