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Huge tax revenue losses from e-commerce activity

VIETNAM BUSINESS NEWS JULY 2

VIETNAM BUSINESS NEWS JULY 2
vietnamnet.vn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vietnamnet.vn Daily Mail and Mail on Sunday newspapers.

China Raises Pre-Tax Additional Deductions for R&D Expenses of Manufacturing Firms

China Raises Pre-Tax Additional Deductions for R&D Expenses of Manufacturing Firms China Raises Pre-Tax Additional Deductions for R&D Expenses of Manufacturing Firms April 15, 2021 Posted by China Briefing Written by Zoey Zhang Reading Time: 3 minutes On April 7, 2021, China’s Ministry of Finance (MOF) and State Taxation Administration (STA) jointly released the Announcement on Further Improving the Policy for Pre-Tax Additional Deductions for R&D Expenses (MOF SAT Announcement [2021] No.13). The announcement, with retrospective effect from January 1, 2021, increases the ratio of additional deduction on manufacturing firms’ R&D expenses from 75 percent to 100 percent. According to the announcement, for R&D expenses actually incurred by manufacturing firms:

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