What policy support does the government have for enterprises?

Implement tax reduction and exemption. The Announcement on Supporting novel coronavirus's Prevention and Control Tax Policy issued by the Ministry of Finance proposes that the longest carry-over period of losses incurred by enterprises in difficult industries that are greatly affected by the epidemic should be extended from 5 years to 8 years. Enterprises in difficult industries include transportation, catering, accommodation and tourism. The main business income of enterprises in difficult industries must account for more than 50% of the total income (excluding non-tax income and investment income). Taxpayers' income from providing public transport services and life services, as well as providing express delivery services for residents' daily necessities, shall be exempted from value-added tax. State Taxation Administration of The People's Republic of China issued a notice on optimizing tax payment services to cooperate with novel coronavirus's prevention and control work, proposing that taxpayers and withholding agents may extend the time limit for tax declaration and payment according to the needs of epidemic prevention and control. After the extension of the tax declaration period, if there are still difficulties in handling it, you can apply for another extension according to law.

The Ministry of Culture and Tourism issued a notice on suspending the collection of part of the tourism service quality deposit to support travel agencies to cope with operational difficulties, supporting travel agencies to cope with current operational difficulties, and temporarily recovering part of the tourism service quality deposit of travel agencies. The scope of closure is all travel agencies in China that have paid the deposit according to law and obtained the travel agency business license, and the closure standard is 80% of the existing funds.

The Ministry of Transport issued a notice on exempting migrant workers from returning to their posts to take chartered buses in expressway during the epidemic prevention and control period, clearly proposing that migrant workers returning to their posts to take chartered buses organized by local governments should be included in the green channel policy of emergency transportation for epidemic prevention and control, and expressway tolls should be exempted.

Legal basis:

People's Republic of China (PRC) enterprise income tax law

Article 3 A resident enterprise shall pay enterprise income tax on its income from sources inside and outside China. Where a non-resident enterprise establishes an institution or place in China, it shall pay enterprise income tax on the income obtained by its institution or place from China and the income generated outside China but actually related to its institution or place.