218.

The preferential tax policy for venture capital funds was introduced in 218. Specifically, on May 14th, 218, the Ministry of Finance and State Taxation Administration of The People's Republic of China issued the Notice on Tax Policies for Venture Capital Enterprises and Angel Investment Individuals (Caishui [218] No.55). This notice is the first national venture capital tax preferential document after "Several Opinions of the State Council on Promoting the Sustainable and Healthy Development of Venture Capital" (Guo Fa [216] No.53, also known as "Ten Articles of Venture Capital Countries") requires to further improve the tax preferential policies for investment deduction of venture capital enterprises. The introduction of this policy aims to promote the sustained and healthy development of venture capital and provide tax incentives for venture capital enterprises and angel investors.