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China Tax & Investment Express Issue No. 2022038 - Enhancing super deduction to support technology innovation
China Tax & Investment Express (CTIE)* brings you the latest tax and business announcements on a weekly basis. We selected some comparatively key announcements to provide for a synopsis and we also provide a link that leads you to the full content of each latest announcement (in Chinese).
Matters covered in this issue include: Public notice (PN) regarding enhancing super deduction to support technology innovation; Supplementary PN issued by the Hainan Provincial Tax Service, State Taxation Administration, Finance Department of Hainan Province and Hainan Provincial Administration for Market Supervision regarding matters related to enterprises in encouraged industries engaging in substantive operations in Hainan Free Trade Port; PN regarding Individual Income Tax policies related to supporting residents’ housing exchange and purchases; The State Council executive meeting to defer payments of certain administrative fees and deposits to further reduce burdens on market entities; PN regarding extending the Vehicle Purchase Tax exemption policy for new energy vehicles; Notice regarding matters related to further implementing the phased deferral of social security contributions; Measures of the Customs of the People’s Republic of China on the supervision and administration of goods in transit.
Please feel free to contact your EY client service professionals for further assistance if you find the announcements have an impact on your business operations.