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Shanghai Daily News Digest

Less tax fees, more subsidies for virus-affected companies   2022-05-30

 

 

Shanghai has pledged to ease the burden on COVID-affected enterprises with a slate of social welfare, tax and subsidies bailout policies, local authorities announced on Sunday.

Struggling industries like catering, retail, tourism, civil aviation and other transportation, as well as small and medium-sized business which have been hit most by the pandemic can defer their social insurance premium payments, housing fund and taxes, said Wu Qing, vice mayor of the city during an online press conference.

In addition to rent reductions, eligible enterprises are exempted from property tax and urban land use tax, and non-resident users will be given a 10-percent financial subsidy for water, electricity and natural gas fees payable for three months. Garbage disposal fees for three months are free of charge.

 


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