M&T lawyer interviewed by China Taxation News on the preferential tax policies for the “entrepreneurship and innovation” enterprise.

As of June 2019, China has gradually introduced 89 tax preferential measures on the main links and key areas for entrepreneurial employment. Zhiqun Shi, senior partner of Beijing M&T Lawyers, thinks that that in order to accurately apply the research and development cost deduction discount, the premise is to accurately grasp the "three differences". Enterprises should choose the most suitable preferential policies according to their actual business conditions and make tax planning in advance according to the requirements of various preferential policies. In the initial stage, "entrepreneurship and innovation" enterprises should pay particular attention to fiscal and tax management, strengthen policy learning, and improve the internal control process.