The Chinese Government will offer preferential income tax treatment to enterprises in the field of integrated circuit (IC) design and software, the Ministry of Finance said in a statement on May 22. According to the ministry, IC and software companies that made a profit before the end of 2018 will be exempt from paying income tax for two years, while the in come tax rate will be halved to 12.5 percent from 25 percent for the third to fifth years.
展开▼
