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Baihui Pharmaceutical actively participated in the 2021 Nanning City Training Session on the New Policies Supporting Innovation and Development for Manufacturing Enterprises.
Release date:
2021-04-27
On the morning of April 23, 2021, the Nanning Municipal Tax Bureau of the State Administration of Taxation held the 2021 Nanning City Seminar on New Policies Supporting Innovation and Development in Manufacturing Enterprises, adopting a format that combined "on-site instruction" with "online live streaming." Over 100 financial and accounting managers, as well as tax personnel from manufacturing companies across the city, attended the seminar. Baihui Pharmaceutical organized its relevant finance staff to participate in this training session.
At the briefing session, key personnel from the Corporate Income Tax Division of Nanning Municipal Tax Bureau first provided an overview of the basic policies and practical guidelines for the additional deduction of R&D expenses. They then analyzed the policy and addressed common challenges in implementation through real-life case studies, offering guidance to companies on effectively collecting and managing their R&D-related expenditures.
Next, Peng Yuan, an associate researcher at the Guangxi Academy of Sciences, explained the autonomous region's science and technology department's policy on R&D investment subsidies, emphasizing that companies should promptly apply for annual R&D subsidies after completing their annual corporate income tax final settlement and statistical reporting.
Finally, the organizers provided an interpretation of Nanning City’s R&D investment subsidy policies and R&D support measures for industrial enterprises. Through this learning session and guidance, companies are now better equipped to apply for re-evaluations as high-tech enterprises, as well as other subsidies related to intellectual property rights. Additionally, this initiative lays a solid foundation for effectively leveraging preferential policies such as the enhanced deduction of R&D expenses and accelerated depreciation of fixed assets.
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