MAINLAND CHINA

According to a notice jointly released by 11 government departments, including the Ministry of Industry and Information Technology, the National Development and Reform Commission and the Ministry of Science and Technology, large enterprises will be guided to build a number of collaborative models among enterprises of all sizes. More

Guidelines for the recognition of industries eligible for preferential enterprise income tax policies recently released by the Qianhai Authority took effect on 20 May and will remain in force for five years. More

According to guidelines recently issued by the Guangdong Provincial Tax Service of the State Taxation Administration, general taxpayers of value-added tax (VAT) on enterprises that obtain an income from renting residential properties or affordable housing to individuals shall calculate VAT payable using the simplified VAT calculation method. Small-scale taxpayers shall pay this tax at a reduced rate of 1.5%, down from 5%. More

The Ministry of Housing and Urban-Rural Development recently announced tentative arrangements for Covid-hit enterprises to apply for housing provident fund payment deferral before 31 December and to pay off arrears according to a rescheduled payment date. More