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Greater China Practice - Implementation Measures on the Recognition and Administration of High and New Technology Enterprises in Shanghai - Shanghai Commission of Science and Technology; Shanghai Finance Bureau; Shanghai National Tax Bureau; Shanghai Local Tax Bureau - 上海市高新技术企业认定管理实施办法 - 上海市科委、上海市财政局、上海市国家税务局、上海市地方税务局
September 19, 2008
Released on August 1, 2008, and effective on August 8, 2008
These measures affect newly-established enterprises applying for status as High and New Technology Enterprises (HNTEs) (and that have been registered in Shanghai for at least one year). HNTEs may be eligible for the preferential company income tax rate of 15 percent, and other favorable policies.
The measures detail the application documents to be submitted, and the recognition procedures. In addition, they require HNTEs to report merger or restructuring activities to the appropriate authorities; if after such activities they are deemed to be out of compliance with HNTE status, such firms may be subject to back taxes.