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China stresses implementation of fiscal, tax policies for SMEs | |
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China's Ministry of Finance on August 24 called for efforts to fully implement fiscal and tax policies to support small and medium-sized enterprises (SMEs) to boost their high-quality development. The ministry stressed the implementation of tax and fee reduction policies to reduce tax burden on small and micro enterprises. Illegal conduct will be cracked down on with a zero-tolerance stance, the ministry said in a circular. It also stressed coordinating fiscal and financial policies to ensure the financing demand of SMEs. The ministry also stressed the implementation of supportive policies such as government-procurement and stabilizing employment to accelerate the development of SMEs. The circular also encouraged local governments to roll out targeted fiscal policies to help SMEs shore up their weak links. |
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