hangzhou launches favorable company tax policies amid virus epidemic
hangzhou recently launched 23 favorable policies to fully support companies to resume production and help them get through difficulties caused by the coronavirus outbreak.
the local tax bureau has set up an online “no contact” tax affairs service model, provided more counselling services to help companies deal with tax affairs, and tried to build an efficient and convenient tax-dealing environment for hangzhou companies amid the current covid-19 epidemic.
according to the measures, a company’s additional expenditure on new equipment for the sake of increasing production of medical protective supplies will be tax deductible.
those who transport medical protective supplies to epidemic-ravaged areas, or provide essential life services and necessities to residents will be exempted from value-added tax.
for organizations or individuals who donate supplies to hospitals treating patients with covid-19 or to support prevention and control of the epidemic, will be exempted from taxes on those supplies.
other favorable tax policies are designed to help relieve the impacts the epidemic has had on companies that have suffered loss of assets and did not dismiss employees during the epidemic outbreak.
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'nice' to meet you, hangzhou
may 6, 2024