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China Introduces Tax Incentives for Community-Based Domestic Services

New measures aimed at boosting the development of community-based family services have been jointly-unveiled by the Ministry of Finance and four other government bodies. With the focus very much on elderly care, child care and other domestic services, the incentives on offer – as detailed in Circular No. 76 [2019] – are largely related to preferential tax and fee arrangements.

In more specific terms, income legally-derived from the provision of elderly care, child care and domestic services will be VAT-exempt, while income derived from such services will only be taxed at 90% of the standard rate. In additional moves, the transfer of real estate and / or land for use in the provision of such services will be exempt from Deed Tax, while any real estate / land used will be deemed to be exempt from Immovable Property Registration Fees, Arable Land Reclamation Fees, Land Reclamation Fees and Idle Land Fees.

Source: Ministry of Finance

Content provided by Picture: HKTDC Research
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