1. will reduce the investment income tax rate of partners who personally participate in venture capital industry by as high as 10 percentage point, which will encourage all sectors of society to participate in venture capital industry investment. In addition to the income from interest, dividends and bonuses, individual income tax should be paid separately as investors' personal income, and the income from production and operation should generally be understood as including the income from equity transfer and other forms of income. Different from the individual partners of partnership venture capital enterprises, angel investors need to file with the competent tax authorities of start-up technology enterprises within 15 days after they have jointly invested in start-up technology enterprises for 24 months, and submit the personal income tax deduction filing form for angel investment.

2. When transferring the equity investment deduction of other start-up technology-based enterprises, the investment deduction formalities shall be handled with the personal income tax deduction form for angel investment of cancelled liquidation enterprises registered by the tax authorities and the personal income tax deduction form for angel investment accepted by the tax authorities at the time of early investment deduction.

3. Due to the good implementation of the pilot policy during the pilot period, in order to maintain the stability of the policy, the policy implementation caliber stipulated in the announcement is consistent with the pilot policy announcement. 2 Income tax and characteristics of enterprise venture capital fund Enterprise venture capital fund is an independent legal entity, and the tax requirements are different from those of limited partnership venture capital fund in terms of property transfer income, dividends distributed by invested enterprises and equity investment income obtained from dividends. The investment that occurred within two years before the implementation date shall be subject to the tax policy stipulated in the Notice, and the shares of companies listed on the Shanghai Stock Exchange and Shenzhen Stock Exchange after the investment are transferred.