From July 2020, qualified talents and employers can file their applications for individual income tax subsidies in most cities in the Greater Bay Area.
Hainan Free Trade Port’s incentives include lower corporate and income tax rates for qualified entities between January 1, 2020 and December 31, 2024.
The latest cuts include reductions and waivers to electricity fees, port costs, highway tolls, telecommunication rates, and oil liability insurance.
The tax and fee cuts and extended preferential policies offer targeted relief for businesses in China most impacted by the COVID-19 induced economic crisis.
China is extending the preferential value-added tax (VAT) policy for its small-scale taxpayers to December 31, 2020. It was previously set to expire May 31, 2020.
We explain Hong Kong’s SME Financing Guarantee Scheme, which can be accessed by businesses who have struggled in the last several months due to COVID-19.
China is expanding its cross-border e-commerce zones and freight supply chain to stabilize foreign trade as well as extending preferential tax schemes.
Taxpayers in China must complete their annual final settlement on consolidated income for the 2019 tax assessment year between March 1 to June 30, 2020.