BVI-registered Yucheng Technologies Limited, IT and outsourced services provider to the banking industry in China, has announced that Yucheng, as well as two of its wholly-owned subsidiaries, have been granted High-Technology Enterprise Certificates by China’s Ministry of Science and Technology, Ministry of Finance and the State Administration of Taxation.
The Certificates are valid for at least three years, and are open for renewal in 2012. High-Technology Enterprise Certificates are awarded to qualified enterprises that meet strong criteria, including developing core intellectual property rights, receiving over 60% annual revenues from high technology products/services, and performing high percentage of research and development.
After receiving the Certificate, Yucheng Technologies (BVI) company continues to receive preferential treatment, including, first of all, a three-year corporate tax reduction. By words of BVI company’s CEO Mr. Weidong Hong, tax benefits will ensure that they continue to maximize their financial performance.