COVID-19 Legal Series (5): What are the Preferential Tax Policies Responding to the Coronavirus Pandemic?
March 25, 2020 | BY
Susan MokGuo Yongmao and Zhang Tianyang of Haiwen & Partners highlight tax policies to support manufacturers and service providers that have assisted with the prevention and control of the COVID-19 pandemic, as well as those who have been affected by it
The spread of the novel coronavirus 2019 (COVID-19) has adversely affected people's lives and economic development. In order to support the prevention and control of COVID-19 and the operation and development of the economy, the Ministry of Finance (MOF) and the State Administration of Taxation (SAT) jointly issued the Announcement on Tax Policies to Support the Prevention and Control of the Novel Coronavirus Pneumonia Epidemic (关于支持新型冠状病毒感染的肺炎疫情防控有关税收政策的公告) (the MOF and SAT Announcement [2020] No.8, (Circular No.8).
Circular No.8 provides preferential policies on enterprise income tax (EIT) and value-added tax (VAT) for different types of taxpayers
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