On Saturday, 16 April 2022, the Shanghai Commission of Economy and Informatization issued a guideline (‘Guideline’) for industrial enterprises. The Guideline is for certain companies to start resuming work and production with controlled risks. Overall, enterprises that are required to return to work shall implement robust controls to prevent the spread of COVID-19. And designate…
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Small and micro businesses Corporate income tax The corporate income tax rate was reduced from 10 percent to 5 percent for small and micro-businesses. The tax rate is applied to the profit portion from 1 million RMB to 3 million RMB. Reduction and exemption of six taxes and two fees Six taxes and two fees…
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Chinese New Year is a significant travel period for many Chinese citizens to return home and celebrate the new year. Usually, the period marks the largest migration in the world with many returning for an extended holiday. However, amidst the on-going pandemic and domestic COVID-19 breakouts, the Chinese government encourage only necessary travel during the…
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