The Tianhe tax bureau has taken multiple measures to help its high-tech enterprises increase investment in research and development, and boost the innovation of products. These include implementing preferential tax policies and introducing them to relevant enterprises.

"We have been regarding innovation as a magic weapon to break through the bottleneck and take lead in the market, and hence have invested huge human and financial resources in technological R&D," said Xie Xuejun, chief financial officer at ZWSOFT (Guangzhou). He continued on to say, "The tax preferential policies brought by the Tianhe tax bureau have given us more confidence in R&D."

In 2022, ZWSOFT enjoyed an additional deduction of 8.65 million yuan ($1.26 million) in enterprise income tax due to its R&D expenses. Meanwhile, it also enjoyed a 15-percent reduction in enterprise income tax for high-tech enterprises, which amounted to 17.31 million yuan.

An official at the Tianhe tax bureau guides the high-tech enterprises with tax preferential policies. [Photo/thnet.gov.cn]

Guangdong Haige iCreate Technology also enjoyed Tianhe's tax preferential policies. In 2022, its enterprise income tax was reduced by 5.41 million yuan for its R&D expenses, and its enterprise income tax was reduced by 36.92 million yuan for being a high-tech enterprise.

"Thanks to Tianhe's preferential policies, we can focus on pursuing development," said Chen Chao, the company's finance manager.