Qingzhen cuts tax to help companies restore operations

The taxation bureau of Qingzhen city -- a county-level city in Southwest China's Guizhou province -- has continued to implement tax cuts and exemption policies to help businesses to resume operations, production and marketing, according to local officials. 

The Qingzhen taxation bureau has established a special group to help companies return to work and production during the novel coronavirus epidemic prevention and control period. 

It is providing enterprises with a guidance service on the latest tax policies and how to handle their tax affairs in a timely way. The aim is to avoid production and operational problems for companies and ensure that taxpayers can full benefit from preferential tax policies. 

Officials said that as a result, 59 companies in Qingzhen city had seen reductions and exemptions of more than 2 million yuan ($0.28 million) in real estate tax and more than 4 million yuan in urban land use tax. 

Additionally, the bureau has also reduced and exempted value-added tax of more than 700,000 yuan for taxpayers engaged in public transport, social services and the delivery of food and daily necessities -- as well as reduced and exempted over 9 million yuan in corporate income tax for local companies.