18 March 2019
Shenzhen Small Businesses Set for Local Tax Reductions
Shenzhen-based small businesses are set to benefit from a range of VAT-related local duty reductions, according to a circular recently issued by the city’s Tax Service.
More specifically, from 1 January this year until 31 December 2021, businesses below a specified threshold with regard to VAT payments will be eligible for a 50% reduction to their Resource Tax, Urban Maintenance and Construction Tax, Property Tax, Urban Land Use Tax, Stamp Duty (excluding the Stamp Duty on securities transactions), Farmland Occupation Tax, various educational surcharges and other local surcharge liabilities.
In the case of any business currently enjoying a preferential rate relating to the designated charges, an additional concurrent reduction may be applied for.
For further details, please access the following links:
Circular of the Shenzhen Tax Service of the State Administration of Taxation on Issues Concerning the Administration of Tax Collection in the Policy of Reduction of Local Taxes and Relevant Surcharges on Small-Scale VAT Taxpayers (No. 4 ) (in Chinese)