Beijing district suspends new recruitment for innovation spaces due to taxation issues

China has shown unreserved support for innovation and entrepreneurship in the past few years. But it turns out that these support offers are good only under certain conditions and complying with the taxation laws of the country.

The industry and commerce regulator of Beijing Chaoyang District issued a notice yesterday to suspend its affiliated shared space innovation centers and incubators, which offer workplaces for small and medium-sized firms, from making new project recruitments, local media is reporting (in Chinese).

This notice was extended because some of the companies being included in the program failed to adapt to the unified taxation system, which is required by the regulator. The present notice takes effect as from today.

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