23 September 2018

Shandong waives 23 mln yuan in VAT for small firms, website says

About 250,000 small businesses in Shandong province have been exempted from paying a total of 22.74 million yuan (US$3.73 million) in value-added tax since the provincial tax bureau started temporary waivers in August, news website reported Tuesday, citing bureau data. And 85,700 of the firms reaped a combined 364 million yuan in tax breaks last year, up 54.3 percent from a year earlier. Tax breaks for the small businesses totalled 300 million yuan in the first nine months of this year, the report said.

– Contact HKEJ [email protected]



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