April 3, 2018 / 9:28 AM / in 7 months

China's corporate income tax rate for qualifying generic drugmakers to be set at 15 pct

BEIJING, April 3 (Reuters) - The corporate income tax rate for generic drugmakers that are identified as high-tech firms will be set at 15 percent, China’s cabinet said on Tuesday.

China’s state council made the announcement in an online statement on promoting the development of generic drugs in the country.

China’s standard corporate tax rate is 25 percent, though it gives firms more leeway to make profit deductions when they make charitable donations. (Reporting by Beijing Monitoring Desk)

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