China Tax Agency Issues Tax Policy Review in Response to Coronavirus

The Chinese State Administration of Taxation March 30 issued a tax policy review in response to the coronavirus pandemic. The policy review provides tax measures including: 1) various tax exemptions for medical workers and other essential workers; 2) a 50 percent reduction in the social security contribution provided by large enterprises for up to three months; and 3) a one-time corporate deduction for the purchase of equipment to increase production capacity from Jan. 1 and continuing indefinitely. [China, State Administration of Taxation, 03/30/20]

Reference:
View Tax Policy Review. View Announcement.