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Shandong: 70% of the share could be IPRs |
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On May 30, "Ordinance of Shandong Province on Promoting IPRs" (hereinafter referred to as the "Ordinance") was passed at the 17th Session of the Standing Committee of the 11th Shandong Provincial People's Congress. The Ordinance definitely regulates several measures encouraging and supporting the creation and use of intellectual property rights (IPRs) and encourages the conversion of IPR into shares, and the corresponding share could be as high as 70%. From now on, special fund arrangements will be included in the governmental financial budget at or above county level, and the amount will be increased gradually according to the financial situation. Such fund will be used for the creation, use and protection of IPR. Furthermore, independent IPRs will also obtain supports and subsidy by ways of loan discount, venture capital for enterprises and several others. As for the taxation, the Ordinance also gives specific provisions: general taxpayers who sell computer software, integrate circuit and other products with independent intellectual property that are developed and produced by themselves, will be levied on the actual amount of the value added tax that over the prescribed proportion. And the technology transfer earnings for units could share enterprise income tax exemptions or reduced tax. Besides, the Ordinance also prescribes that, in one taxable year, the part of the technology transfer earnings that is less than 5 million will be exempted from enterprise income tax, and the part over 5 million will be levied half of the enterprise income tax. The Ordinance requires that, intellectual property departments shall establish a system for IPR reporting and inspection to punish and combat in time the IPR infringements. |
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