China Increases Tax Reliefs for High Technology Enterprises

China's Ministry of Finance, State Administration of Taxation, and Ministry of Science and Technology have jointly issued Announcement No. 28 of 2022 on increased tax reliefs for high technology enterprises. High technology enterprises (as defined according to Guo Ke Fa Hou (2016) No. 32) are allowed to claim a super-deduction of 100% (an additional deduction on top of the actual cost) for equipment purchased in the last three months of 2022 (1 October to 31 December 2022).  Any am…