The National Taxation Bureau of the Southern Area, Ministry of Finance indicates that under the Statute for Industrial Innovation, businesses investing in smart machines and 5G-related equipment or technology, in addition to tax credit for investment in smart machines and 5G, may also apply for deduction of substantive investment from tax base of undistributed earnings. The tax cut effect could reach up to 10 percent against the profit-seeking enterprise income tax in total. Salient points of such tax incentives are summarized in the attached table.
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