The two ministries and commissions jointly issued measures to regulate the equity investment income of venture capital guidance funds (VC289)

The Ministry of Finance and the Ministry of Science and Technology have jointly issued the “Interim Measures for the Collection of Income from Equity Investment Revenue of Technology-based SME Venture Capital Guidance Funds” to regulate the collection of equity investment income from the aforementioned guidance funds.

According to the Measures, the equity investment income of the guidance fund includes: the withdrawal of the original investment of the guidance fund and the income that should be recovered; the guidance fund invests through follow-up investment and the income that should be obtained during the period of holding the equity; At the time, the guidance fund should obtain the income from the remaining property settlement.

The "Measures" clarify that the fund ’s equity investment income should be turned over to the central treasury and included in the central general budget management, and listed in the "non-tax income" under the general budget income related subjects under "state-owned capital operating income."

The Ministry of Finance is the functional department for the collection and management of the equity investment income of the guidance fund, and supervises and inspects the collection of the equity investment income of the guidance fund.

The “Measures” also clarify that the amount of the equity investment income contribution of the guidance fund shall be determined according to the following: the equity investment of the guidance fund shall be withdrawn from the original investment that should be recovered. The financial guidance fund appropriation income certificate is determined.

The benefits to be obtained from the withdrawal of the equity of the guidance fund shall be determined in accordance with the receipt of receipts from the central financial guidance fund for the funds allocated by the guidance fund investment enterprise and the equity transfer agreement of the guidance fund.

The guidance fund invests through follow-up investment, and the income that should be obtained during the period of holding the equity is determined in accordance with the accounting statements audited by the guidance fund investment enterprise by the accounting firm and the profit distribution resolution of the shareholders' meeting. In addition, the residual property settlement income obtained by the guidance fund shall be determined in accordance with relevant legal procedures.

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