On 4 November 2015, China's Ministry of Finance (MOF), State Administration of Taxation (SAT) and Ministry of Science and Technology jointly issued Circular 119/2015, which sets out detailed rules for the changes in the research and development (R&D) Super Deduction tax incentive announced by the State Council on 21 October 2015 ({News-2015-10-23/A/2- previous coverage}).
Super Deduction Tax Incentive
The Super Deduction tax incentive allows a 150% deduction of eligible R&D expens…