The State Council issued new guidance to drive start-ups and innovation
On 21 October 2015, Premier Li Keqiang hosted a State Council executive meeting in Beijing and made a speech regarding refining the super deduction policy for Research and Development (R&D) expenses and enhancing the undertaking of R&D by enterprises. Meanwhile, it was also announced to extend certain income tax policies in the National Innovation Demonstration Zones (NIDZs) nationwide with the intention to promote structural adjustment and drive start-ups and innovation.
Soon after the executive meeting, the Ministry of Finance (MOF) and State Administration of Taxation (SAT) jointly issued Caishui  No.116 (Circular 116), extending the piloted income tax incentives implemented in NIDZs nationwide.
Other issues of China Tax/Business News Flash Visit our Tax Library.