China's finance ministry ups R&D tax allowance for small, mid-sized tech firms

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From January 1, eligible small tech firms would be able to deduct 100% of their research and development costs

Stella Qiu and Ryan Woo, Reuters News

April 1, 2022

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China's finance ministry said on Friday it has increased the research and development (R&D) tax allowance for some small and mid-sized tech firms this year.

From January 1, eligible small tech firms would be able to deduct 100% of their research and development costs, the ministry said in a statement.

(Reporting by Stella Qiu and Ryan Woo Editing by Shri Navaratnam)

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