Improved Tax Policies to Promote Innovation, Entrepreneurship
China will optimize its preferential-tax policies for firms engaged in research and development starting from 2016, as it moves to boost innovation and mass entrepreneurship. Starting from Jan. 1, more R&D activities will be covered by the improved policy, further reducing the taxable income of enterprises, according to a statement released after a State Council executive meeting presided over by Premier Li Keqiang on Wednesday
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