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China to offer preferential tax for IC, software firms after US ban

Last updated on May 23, 2019

China’s integrated circuit design and software companies will benefit from a new tax-free incentive policy, said  the Ministry of Finance and State Taxation Administration on Wednesday.

These companies will be exempted from paying income taxes in the first two years if they were profitable before the end of 2018 and the income tax rate for those firms will be halved to 12.5 percent from 25 percent in the third to fifth year, the ministry said.

The statement . . .

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