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New Rules Issued for HNTE Status Recognition

Tax Newsflash:February 24, 2016/China

Rules issued by China's Ministry of Finance, the State Administration of Taxation and the Ministry of Science and Technology on 29 January 2016 amend the requirements to qualify for High-New Technology Enterprise ("HNTE") status (Guo Ke Fa Huo [2016] No. 32, "New Measures")). Specifically, the New Measures lower certain thresholds for a company to be recognized as an HNTE, streamline the application process and update the list of state-encouraged high-new technologies, but they also enhance the post-recognition audits of HNTEs. The New Measures apply retroactively as from 1 January 2016. (Tax Newsflash:February 24, 2016/China)

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This newsletter explains the following topics:

(1) Background
(2) Key Changes
(3) Deloitte’s comments and recommendations

 

>> Click for Japanese [新しいハイテク企業認定管理弁法の公布]

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