28 August 2023
The Ministry of Finance, the State Taxation Administration, Ministry of Science and Technology, and Ministry of Education (“the authorities”) issued the “Notice in relation to the Extension of Implementation of Tax Policies for Technology Business Incubators, University Science Parks and Mass Innovation Bases” (“the Notice”) on 28 August 2023. The authorities announced that national and provincial-level technology business incubators, university science parks and nationally registered mass innovation bases shall be exempt from property tax and urban land use tax for properties and lands that are for self-use or provided to incubating entities rent-free or through rental agreements. The income generated from providing incubation services to incubating entities shall be exempt from value-added tax. This Notice shall be effective from 1 January 2024 and valid until 31 December 2027.