Supporting your innovation
Innovation and R&D are inexhaustible driving force and core competitiveness for long-term and sustainable development of an enterprise. Chinese government attaches great importance to the role of R&D investment by enterprises in national economy, and introduces a series of R&D incentive programs.
Based on PwC global R&D Incentive Services Network, PwC China has established a full time China R&D Incentive Services team. Our team consists of engineering and science experts specializing in different fields as well as experienced financial and tax professionals who provide value and support to your innovation.
Compliance, Efficiency, Maximization — Optimal solution for R&D incentives
Common issues enterprises may encounter in R&D incentive application
In the process of applying for R&D incentives, enterprises often encounter following difficulties due to reasons such as lack of comprehensive management, of R&D activities and expenses, adopting misleading accounting driven methodology rather than correct technology driven methodology and ineffective internal communication:
- Unable to correctly and fully identify eligible R&D activities
- Low efficiency, information error and leakage, inaccurate or incomplete data and documents
- Unable to fully enjoy R&D incentives
- Lack of effective measures to mitigate tax risks
PwC R&D incentive solution covering all stages of innovation value chain
China R&D incentive services team, as part of PwC global R&D incentive services network, has assisted hundreds of clients in structuring their R&D programs, improving their return on R&D investment and their effective tax rate. We also work with governments of all levels to design and improve tax regimes in order to foster innovation.
Our team consists of tax, financial, engineering, and science experts who understand technical challenges confronting enterprises in different industries, and combines extensive experience in analyzing the often ambiguous statutory language concerning R&D incentives with knowledge of varying local practices. Our professionals include technical specialists with rich industry experience that assist in identifying those R&D activities which qualify for incentives but might be otherwise overlooked.
We provide insights and professional suggestions that can help mitigate risk and effectively manage tax burden. adopting technology driven methodology, we assist enterprises to identify and develop critical and strategic initiatives, support implementation through documentation of key aspects of various incentives, and develop procedures and technologies intended to improve the efficiency and effectiveness of identifying, documenting, calculating, and sustaining current and future incentives as well as management of R&D activities for incentive purposes.
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