Joyou Group awarded reduced tax rate as High-Tech-Enterprise

2013.01.15

Hamburg, 15 January 2013. Joyou AG, a leading bathroom solution provider in China, announced today that the Chinese government has renewed Joyou´s status as a "High-Tech Enterprise" for three years for its main operating subsidiary Joyou Group Building Materials Co. Ltd. As a High-Tech Enterprise, the subsidiary receives a preferential tax rate of 15 per cent for the years 2012 through 2014 inclusive, compared with the normal corporate tax rate of 25 per cent. 

There are a number of criteria to qualify for the High-Tech Enterprise including that a company must own proprietary intellectual rights and operate in a government-selected industry. R&D expenditures and income from high-tech products and services each must meet a required minimum percentage of annual revenue to the number of R&D personnel must fulfil a specified percentage of total employees.
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