China recently published Circular 32/2016, which was jointly issued by the Ministry of Science and Technology, Ministry of Finance, and State Administration of Taxation. The Circular concerns revised conditions for high and new technology enterprise (HNTE) status, which provides for a lower enterprise income tax rate of 15% (standard 25%) and certain other benefits. It amends Circular 172/2008 and is effective from 1 January 2016.
Conditions
Under Circular 32, an enterprise must meet the f…