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[Great News] Software Enterprise Income Tax Preferential Continuation


Release time:

2019-05-10

On May 8, 2019, the executive meeting of the State Council decided that Premier Li Keqiang of the State Council would preside over the executive meeting of the State Council on May 8 to deploy and promote the innovation and upgrading of national economic and technological development zones and create a new highland of reform and opening up. It was decided to continue the preferential income tax policies for integrated circuit and software enterprises to attract more domestic and foreign investment to participate in and promote the development of the information industry. The meeting pointed out that there are currently 219 national-level economic development zones in my country, with GDP and fiscal revenue accounting for about 10% of the country, and import and export trade and utilization of foreign capital accounting for about 20%. The growth rate of main indicators exceeds the national average. There is a lot of new potential to be released

Decision of the State Council Executive Meeting on May 8, 2019

 

Premier Li Keqiang of the State Council presided over an executive meeting of the State Council on May 8 to deploy and promote the innovation and upgrading of national economic and technological development zones and create a new highland of reform and opening up; it was decided to continue the preferential income tax policies for integrated circuit and software enterprises, attract more domestic and foreign investment to participate and promote the development of the information industry.

 

The meeting pointed out that at present, there are 219 state-level economic development zones in China, with GDP and fiscal revenue accounting for about 10% of the country, import and export trade and utilization of foreign capital accounting for about 20%, and the growth rate of major indicators is higher than the national average. at the same time, there is still a lot of new potential to be released. The income from the transformation of job inventions by scientific research institutes in the region will be given cash rewards to scientific and technological personnel participating in research and development. If they meet the requirements, they can be reduced by 50% and included in the income from wages and salaries to pay personal income tax. Increase support for the joint construction of talent training bases in the economic development zone and vocational colleges.

 

The meeting pointed out that the integrated circuit and software industries are strategic, basic and leading industries that support economic and social development. By treating all types of ownership enterprises established in China, including foreign-funded enterprises, equally, and implementing inclusive tax and fee reductions, attracting various types of investment to participate in and promote the development of the integrated circuit and software industries is conducive to promoting the optimization and upgrading of the economic structure and better Meet the needs for high-quality development and high-quality life.

 

The meeting decided that on the basis of the "two exemptions and three halves" of enterprise income tax (I. e. exemption from the first year to the second year and halving from the third year to the fifth year) or "five exemptions and five halves" (I. e. exemption from the first year to the fifth year and halving from the sixth year to the tenth year), for integrated circuit design and software enterprises, we will continue to implement the preferential policy of "two exemptions and three halves" of income tax specified in the notice of the State Council on issuing several policies to further encourage the development of software industry and integrated circuit industry in 2011. The 2018 annual income tax settlement is also carried out in accordance with the above provisions. At the same time, the relevant departments should pay close attention to the study and improvement of the next step to promote the integrated circuit and software industry to a higher level of support policies.

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