China to extend tax, fee supports for enterprises

Updated: Sep 27, 2023 Xinhua Print
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A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. [Photo/Xinhua]

BEIJING -- China will extend several preferential tax and fee policies to continue easing the burden on enterprises and support the development of businesses, the Ministry of Finance said Wednesday.

China will continue to exempt registration fees for certain epidemic-prevention drugs and medical devices between Jan. 1, 2024, and Dec. 31, 2027, the ministry said.

Supportive policies for funds used to transfer personnel at local reservoirs will be extended during the same period, the ministry added.

Preferential policies for heating suppliers will continue until the end of the heating season in 2027, and favorable policies for publication companies until Dec. 31, 2027, according to the ministry.

The country stepped up tax cuts to boost market vitality in the first eight months of the year.

Data from the ministry shows that China's tax revenue totaled some 11.32 trillion yuan (about 1.58 trillion U.S. dollars) during the January-August period, down 12.6 percent year on year.

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