Dear Working Group Members,
The Finance & Taxation and Research & Development Working Groups are pleased to invite you to the meeting “R&D Tax Benefits: Challenges and Opportunities for Business”, which is taking place on Thursday, October 15th, 15:30-17:00 (China time), both online (via Zoom) and on-site at the European Chamber’s Shanghai and Beijing offices.
Innovation and R&D constitute the prime drivers of long-term competitiveness and sustainable development for companies across geographies; the Chinese government in particular attaches great importance to the role they both play in boosting economic growth. As a result, the Chinese government has introduced a series of R&D incentive programs, which entail the following:
- Reduced CIT rate of 15% for qualified High- and New Technology-Enterprises (HNTE);
- Reduced CIT rate of 15% for Advanced Technology Service Enterprise (ATSE);
- Super-deduction rate of 175% for qualified R&D expenses companies incur; and
- Financial subsidies for qualified R&D centers;
At this meeting, Jason Yu, Tax Director, and Blaze Wang, Tax Manager of KPMG China (bios attached) will start from addressing some of the common hurdles companies face in filing R&D incentive applications and then proceed to unravel the steps that enable China-based entities to fully enjoy R&D deductions. Specifically, the discussion will cover:
- Overview of R&D tax incentives in China;
- Pain points in R&D incentive application filings;
- Case sharing of successful HNTE, R&D super deduction, ATSE, R&D center applications—including disputes on IP arrangements, recording expenses, and interpretations of R&D activities.
Agenda
15:30-15:35 Opening Remarks and Introduction
15:35-16:30 Presentations by Jason Yu, Tax Director, and Blaze Wang, Tax Manager, KPMG China
16:30-17:00 Q&A and Closing Remarks
We look forward to welcoming you to this meeting. To confirm your attendance, please contact Benedetta Borri at bborri@europeanchamber.com.cn or Xinyi Xie xyxie@europeanchamber.com.cn no later than 14th October, noon. Kindly indicate whether you are attending online or on-site. If you wish to participate in person, please let Benedetta or Xinyi know whether you prefer joining in Beijing or in Shanghai.