iHiT China informs knowledge-based companies that newly established knowledge-based companies can qualify for a tax exemption on income generated from the sale of their knowledge-based products, regardless of the product’s technology level.

Key points include:

• Companies with less than IRR 7 billion in revenue from the sale of knowledge-based products at the time of application are classified as newly established knowledge-based companies.
• The knowledge-based company certification for these companies is valid for five years.
• Having a product with Technology Level 1 is not a requirement for newly established knowledge-based companies to qualify for the tax exemption.
• To claim the exemption, eligible companies must register the trade names of their knowledge-based products in the relevant system and submit a request for the tax exemption when filing their tax return.