China's Ministry of Finance and State Administration of Taxation have jointly issued Announcement No. 6 of 2021 concerning the extension of several preferential tax policies. Some of the key policies include the following, which are extended until 31 December 2023:
- The preferential policies of Circular 54/2018, which provides that the cost threshold for the immediate (current period) deduction of newly-purchased machinery and equipment for R&D and certain industries is increased from CN…