PROFIT TAX SAVINGS

On 1 August 2016, LSCM was approved as an approved research institute under section 16B(4)(a) of the Inland Revenue Ordinance. Any payments made to LSCM for research and development related to payer’s trade, profession or business - or to the class of trade, profession or business to which that trade, profession or business belongs - can be deducted in ascertaining the assessable profits of the payer under certain specified conditions by virtue of section 16B.