1. If a company-based venture capital enterprise directly invests in a seed stage or start-up stage technology-based enterprise (hereinafter referred to as the start-up stage technology-based enterprise) for two years, the taxable income of the company-based venture capital enterprise can be deducted in the year when the equity has been held for two years. If the deduction is insufficient in the current year, it can be carried forward in future tax years;

2 limited partnership venture capital enterprises (hereinafter referred to as partnership venture capital enterprises) direct investment in start-up technology-based enterprises for two years, the partners of partnership venture capital enterprises in the following ways:

(1) The legal person partner can deduct the income of the legal person partner from the partnership venture capital enterprise according to 70% of the investment in the start-up technology-based enterprise; If the deduction is insufficient in the current year, it can be carried forward in future tax years;

(2) The individual partner can deduct the operating income of the individual partner from the partnership venture capital enterprise according to 70% of the investment in the start-up technology-based enterprise; If the deduction is insufficient in the current year, it can be carried forward in future tax years;

3. If an angel investor directly invests in a start-up technology-based enterprise by means of equity investment for two years, he can deduct the taxable income obtained by transferring the equity of the start-up technology-based enterprise according to 70% of the investment amount; If the current period is insufficient for deduction, it can be carried forward for deduction when the taxable income of equity transfer of start-up technology-based enterprises is obtained in the future.

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