Jiangxi recently introduced a series of preferential tax policies to encourage small and micro enterprises to carry out technological innovations. The Local Taxation Bureau of Jiangxi Province made it clear that small and micro enterprises may be taxed at a reduced rate of 15% after they have been identified as high-tech enterprises by relevant departments. The specific preferential measures include: In the aspect of technological innovation, the research and development expenses incurred by small and micro enterprises for the development of new technologies, new products, and new processes, and the formation of intangible assets that are not included in the current profits and losses, may be based on actual deductions as required. The deduction shall be calculated based on 50% of the R&D expenses; if the intangible assets are formed, it shall be amortized according to 150% of the cost of the intangible assets. In terms of technology transfer, in a tax year, the income from technology transfer of small and micro enterprises not exceeding 5 million yuan will be exempted from corporate income tax, and if the amount exceeds 5 million yuan, the enterprise income tax will be halved.
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