Pien Tze Huang cosmetics gained recognition from high-and-newtech businesses

Pien Tze Huang released a notice that the Fujian Pien Tze Huang Cosmetics Co.,Ltd(hereinafter referred to as “Pien Tze Huang cosmetics”) gained the recognition from high-andnew-tech businesses and enjoyed 15% income tax discount.According to the notice,this was the another recognition upon expiration of validity of the certificate.The company was recognized as high-and-newtech business in 2008 for the first time.And the repeated review and recognition were achieved in 2011,2014 and 2017.It was the first recognition for the Pien Tze Huang cosmetics.According to the relevant regulations of our country,the enterprise can enjoy the tax preference of the state on the high-tech enterprise for three consecutive years (2020-2022) after being recognized as a high-tech enterprise,that is,the enterprise income tax shall be paid at the tax rate of 15%.

According to Pien Tze Huang,the recognition as “high-and-newtech enterprise” plays a positive role in the development of the company yet without any big impact on the financial status and business performance of the company and its subsidiary in the year of 2020.