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What is the percentage of additional pre-tax deduction for manufacturing companies’ Research &Development (R&D) expenses?
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The expenses actually incurred in the R&D activities carried out by the manufacturing enterprises which have not formed intangible assets, the actual expense and 100% additional deduction allow to be deducted before tax from January 1, 2021. If an intangible asset is formed, it allows to be amortized before tax at 200% of the cost of the intangible asset from January 1, 2021.
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How to identify whether the company is a manufacturing company?
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A manufacturing company refers to whose main business income is more than 50% of its total income during the year that enjoys this preferential policy. The scope of the manufacturing industry is determined in accordance with the "Classification of National Economic Industries".
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In the year when the intangible asset is formed, the company is not a manufacturing company. Can the intangible asset be amortized before tax at 200% in the subsequent years that it becomes to the manufacturing company?
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According to regulations, a manufacturing company refers to whose main business income is more than 50% of its total income during the year that enjoys this preferential policy. Therefore, in the year when the intangible assets are formed, the company is a manufacturing company or not does not affect the company's subsequent amortization at 200% after becoming a manufacturing company. For the year that is not a manufacturing company, it is amortized before tax at a rate of 175%.
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How to enjoy this preferential policy for EIT monthly (quarterly) declaration?
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When companies declare and prepay the enterprise income tax in the third quarter of the year (prepaid quarterly) or September of the year (prepaid monthly), they can choose to enjoy the preferential deduction policy for R&D expenses in the first half of the year. Adopt the method of "self-discrimination, declaration of enjoyment, and retention of relevant materials for future reference".
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If the monthly (quarterly) prepayment declaration is not selected for additional deduction, can it be enjoyed together with the annual EIT declaration?
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If companies do not choose to enjoy the preferential policy of R&D expenses deduction when apply for the third quarter or September EIT declaration, they can enjoy when EIT
annual declaration together.
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FAQ
