SHENZHEN, China, Mar. 23 /Xinhua-PRNewswire/ -- The Intermost Corporation (OTC Bulletin Board: IMOT), a leading online electronic equity exchange service provider in China, brings news from the Ministry of Finance of People's Republic of China and State Administration of Taxation that they put forth a notice of giving significant tax preference to Venture Capital (VC). When Venture Capital enterprise invests on small & medium hi-tech enterprise over 2 years in manner of equity investment, under given condition, 70% of investment on small & medium hi-tech enterprise could be credited its taxable income.
As will be readily seen, the aforesaid policy would promote a further development of venture capital enterprise and be favorable to settle issues of small & medium enterprises' financing. Intermost expresses appreciation on the new tax policy, as an outstanding corporation addressing themselves to integrate and establish Equity Exchange Market and to serve for small & medium enterprises' financing, our corporation would catch hold of this turning point to speed up development.
Being the beneficiary of new tax policy, president of CENTERGATE VC MANAGENT CO., LTD (CVC) Dakai Deng expressed his real encouragement. He announced yesterday, "The decision on vigorously developing Multi-Layer Capital Market made by Chinese government creates an developing opportunity, issues like investment fund exit and income tax which ever assailed us in the past are solving one by one. CVC would enlarge business expansion at this turning point and provide capital support for more Chinese small & medium enterprises."
Mr. Xiangxiong Deng, acting CEO of the Intermost Corporation said, "Chinese government has issued a series of preferential policies in order to promote construction of Multi-Layer Capital Market and firmly settle issues of small & medium enterprises' financing since last year. The issuance of VC preferential tax policy embodies a trend of successive policies. The Intermost Corporation would take hold of this historic opportunity, keeping pace with unveiled policies and market development, speeding up development and grabbing the key point, alongside making contribution to construction of Chinese Multi-Layer Capital Market, it is certain to ensure our leading position in integration of Chinese primary capital market."
About the Intermost Corporation
Founded in the USA in September 1998, the Intermost Corporation was the first Chinese Internet company listed on the US OTC Bulletin Board (stock symbol: IMOT) in December 1998. The Intermost Corporation has focused its services on the booming Equity Exchange Market in China, including equity-related solution development, equity quotes and information provision, electronic online equity exchange services, direct investment in regional equity exchanges, business incubation services for well-performing innovative enterprises, investment consulting services for overseas listings, the equity portal website -- China Equity Exchange Platform ( http://www.chinae.com ), and other services.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or if they prove incorrect, could cause the Company's results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company assumes no obligations and does not intend to update these forward-looking statements.
