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Policies improve people's livelihoods in 2020
Updated: Dec 28, 2020
chinadaily.com.cn
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-- 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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