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