(Xinhua/Li Ziheng)

Gov’t to advance with scientific and technological innovation tax exemptions bill

The Macau Executive Council announced today (Friday) a law proposal to advance with tax incentives to promote activities in the area of scientific and technological innovation.

The bill to be submitted to the Legislative Assembly would provide for tax benefits in the context of the complementary income tax, stamp duty on real estate transfers, urban property tax and professional tax.

Tax incentives are intended for companies that have been working in the field of scientific and technological innovation for over a year.

Support requests must go through an evaluation committee that would “analyze and recognize scientific and technological innovation activities”.

The proposed law speaks of activities involving computer technology, artificial intelligence, biomedicine, traditional Chinese medicine, energy conservation, marine engineering and nutrition.