CHINA China to extend tax relief policy for western firms


China to extend tax relief policy for western firms


21:41, April 28, 2020

BEIJING, April 28 (Xinhua) -- China's financial authorities decided to extend the term of tax relief measures targeting corporates in western China for another three years, as a powerful prop to promote the development and opening-up of the region.

The decision, effective from Jan. 1, 2021 to Dec. 31, 2023, will offer a lowered income tax rate of 15 percentfor the designated firms in western regions, according to a recent circular jointly released by the Ministry of Finance, the State Tax Administration and the National Development and Reform Commission.

The preferential policy will apply to regions including Inner Mongolia Autonomous Region, Guangxi Zhuang Autonomous Region, Tibet Autonomous Region and Ningxia Hui Autonomous Region, provinces of Sichuan, Guizhou, Yunnan, Shaanxi, Gansu, Qinghai, city of Chongqing, as well as Xinjiang Uygur Autonomous Region, and Xinjiang Production and Construction Corps, the circular said.


(Photo: Agencies)

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue