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Policies improve people's livelihoods in 2020

Updated: Dec 28, 2020 chinadaily.com.cn Print
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A taxpayer in Baokang county, Hubei province, enquires about filing procedures at the local tax office. [Photo by Yang Tao/for China Daily]

-- Tax relief policies

A State Council executive meeting on Feb 25 decided to exempt value-added taxes for small-scale taxpayers in Hubei province, which was hit hard by the novel coronavirus earlier this year, and cut taxes from 3 percent to 1 percent for those outside Hubei from March 1 to May 31.

Individual businesses will also see a cut in their insurance contributions. Industrial and commercial companies not from high energy-consuming industries enjoy a 5-percent cut in electrical charges.

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