Guangdong Publishes Preferential Tax Policies in midst of SARS Crisis

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Last updated at: (Beijing Time) Saturday, May 10, 2003

Guangdong Publishes Preferential Tax Policies in midst of SARS Crisis

Guangdong Province in south China Friday published a series of preferential tax policies aimed at supporting enterprises seriously affected by severe acute respiratory syndromes (SARS).

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Guangdong Province in south China Friday published a series of preferential tax policies aimed at supporting enterprises seriously affected by severe acute respiratory syndromes (SARS).

Statistics show SARS has had an obvious impact on the tourist, transportation, entertainment and catering industries in Guangdong,the site of the first reported SARS case.

Under the preferential policies, the basis of business tax is lowered to varying degrees for enterprises of the above-mentioned industries beginning Jan. 1 this year, while enterprises and individuals will free from income taxes for their anti-SARS donations, and so will front-line medical workers for the temporary subsidies they are offered.

From April 1, real estate taxes and land taxes will be reduced or waived in three months according to the difficulties faced by the parties concerned.

If the SARS crisis lasts until August, the adjustment of tax policies will result in a 900 million yuan (108 million US dollars)loss in tax revenue, said Wu Shengwen, director of the provincial local tax administration.

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