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SUZHOU NO.4 PHARMACEUTICAL FACTORY Co., LTD. SUZHOU NO.4 PHARMACEUTICAL FACTORY Co., LTD.
What are the tax benefits for biopharmaceuticals?
2022-06-13 17:57:27    Access: 7  Author: spf4

  I.Preferential tax policies to promote investment:Venture capital is preferential.In order to encourage the development of small and medium-sized high-tech biomedical enterprises,venture capital enterprises that invest in unlisted small and medium-sized high-tech biomedical enterprises for more than 2 years by means of equity investment may 70%of the investment amount can be deducted from the taxable income of the venture capital enterprise in the year in which the equity has been held for 2 years;if the deduction is insufficient in the current year,it can be carried forward and deducted in subsequent tax years.Investment income is exempt from tax.In order to avoid double taxation and encourage enterprises to invest,the dividends,bonuses and other equity investment income obtained by qualified resident enterprises directly investing in biopharmaceutical enterprises are exempted from corporate income tax.

  2.Preferential tax policies to promote scientific and technological progress:High-tech enterprises have a low tax rate,and high-tech enterprises that the state needs to give key support to are subject to a reduced corporate income tax rate of 15%.The accelerated depreciation of fixed assets is preferential.If the fixed assets of an enterprise really need accelerated depreciation due to technological progress and other reasons,the depreciation period can be shortened or the method of accelerated depreciation can be adopted.Research and development expenses are deducted before tax.The research and development expenses incurred by biopharmaceutical enterprises for the development of new technologies,new products,and new processes have not formed intangible assets and are included in the current profit and loss.50%of the expenses will be deducted additionally;if intangible assets are formed,150%of the cost of the intangible assets will be amortized.In the"Notice on Policy Issues Concerning the Pre-tax Super Deduction of Research and Development Expenses"(Cai Shui[2013]No.70),the supplement of the research and development clinical trial fees of new drugs is included in the scope of super deduction.

  3.Preferential tax policies to promote the integrated development of industry-university-research institutes:preferential incubators,as stipulated in the"Notice of the Ministry of Finance and the State Administration of Taxation on Tax Policies for Technological Business Incubators"(Cai Shui[2013]No.117),incubators that meet the requirements of non-profit organizations Income,in accordance with the Enterprise Income Tax Law and its implementing regulations and relevant tax policies,enjoy preferential corporate income tax policies.Technological,bio-pharmaceutical business incubators in our province can apply to the finance and taxation department to be recognized as a non-profit organization,and their non-profit income can enjoy corporate income tax exemption.The income from technology transfer is exempted from taxation,and the qualified technology transfer income of biopharmaceutical enterprises can be exempted or reduced from corporate income tax.Specifically,within a tax year,the part of the technology transfer income of resident enterprises that does not exceed 5 million yuan is exempt from corporate income tax;the part exceeding 5 million yuan is halved.The scope of technology transfer includes new varieties of biomedicine and other technology transfers determined by the Ministry of Finance and the State Administration of Taxation.At the same time,enterprises should sign a technology transfer contract and calculate the technology transfer income separately.

  4.Tax policies to promote enterprise development:From January 1,2008 to December 31,2015,the advertising and business promotion expenses incurred by pharmaceutical manufacturing enterprises shall not exceed 30%of the sales(operating)income of the year.Enterprises are deducted before corporate income tax,and the excess is allowed to be carried forward and deducted in subsequent tax years.

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