China News Service, Macau, March 2 (Reporter Long Tuyou) The Finance Bureau of the Macau Special Administrative Region Government announced on the 2nd that in order to promote technological innovation, build smart cities, and promote appropriate diversification of industries, the Special Administrative Region Preferential System", the Bureau of Finance will begin accepting applications from enterprises on April 1.

  According to the provisions of the law, "technological innovation business" refers to the business of innovative inventions or the application of scientific knowledge, technology or technology in product manufacturing or service provision in an innovative way, especially the application of relevant scientific and technological innovations to the new generation of information technology, Innovative inventions in artificial intelligence, integrated circuits, biomedicine, traditional Chinese medicine, energy conservation and environmental protection, marine engineering, nutrition, new energy, aerospace and other fields.

  According to the Finance Bureau, all taxpayers who have completed business registration for supplementary income tax, regardless of whether they are natural persons or legal persons, and as long as they are not debtors of the Macao SAR Treasury, their main business meets the definition and scope of technological innovation business and has been in operation for one year. Anyone can apply for tax concessions, which will then be reviewed and approved by the Science and Technology Innovation Business Enterprise Review Committee.

Qualified companies that have been approved can enjoy tax concessions such as stamp duty, housing tax, income supplement tax and occupational tax.

  The "Tax Preferential System for Enterprises Engaged in Technological Innovation Business" has been published in the "Gazette of the Macao Special Administrative Region" and will be fully effective from April 1, 2021.

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