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China mulls over more venture capital tax breaks to help SMEs

08-04-2011 15:03 BJT

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China's tax office is considering a plan to offer more tax incentives to venture capital firms when they invest in local small and medium-sized enterprises. This is part of an initiative launched by the government to support SME development.

Venture capital companies already enjoy tax deductions of 70 percent on their investments when inject money in unlisted small and medium scale high tech firms. But the State Administration of Taxation is thinking about widening the criteria to include investments for non-tech companies.

Experts say this will ease SME's funding pressures, which arose after a series of interest rate hikes and credit restrictions.

Editor:Li Wanran |Source: CNTV.CN

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