Shanghai: Support for Enterprises to Invest in Basic Research with Tax Incentives

The Shanghai Municipal People's Government Office issued the "Measures to Support Enterprises in Strengthening Basic Research and Enhancing New Momentum for High-Quality Development in Shanghai", which points out that enterprises will receive tax incentives for investing in basic research. According to relevant national regulations, when calculating the taxable income, enterprises supporting non-profit research institutions, universities, and government natural science funds for basic research expenses can deduct the actual amount incurred before tax, and can deduct 100% before tax; non-profit research institutions and universities receiving basic research funds from enterprises, individuals, and other organizations are exempt from enterprise income tax.