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China’s Cabinet announced relief measures for SMEs and a VAT exemption for delivery services due to COVID-19

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Due to the coronavirus pandemic, the Chinese State Council announced relief measures for small and medium-sized enterprises (SMEs) and a VAT exemption for express delivery services on April 27. 

 

The measures include:  

 

  • a continuation of the phased deferral of employer contributions for pension, unemployment, and work-related injury to individual industrial and commercial households impacted by the pandemic.
  • a 90% increase in unemployment insurance for SMEs and individual industrial and commercial households.
  • a VAT exemption on income from eligible express delivery services from May 1 to December 31. 

 

 

Source: (scio.gov.cn) 

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