Detection Technology certified as a High and New Technology Enterprise (HNTE) in China
Detection Technology Plc company announcement 8 December 2020 at 12:00 (EET) Detection Technology certified as a High and New Technology Enterprise (HNTE) in China Chinese authorities have approved Detection Technology’s application for High and New Technology (HNTE) certification, and it’s Beijing-based subsidiary is granted a HNTE classification. Among other benefits, the HNTE status will reduce the subsidiary’s corporate income tax (CIT) rate from current 25% to 15%. The financial impact to the group’s net profit in January-September 2020 is estimated to be around 350 thousand