All These Things For Free Since 2018!

According to the notice from the Ministry of Finance, buying new energy automobile will be tax-free from January 1st, 2018 to December 31st, 2020. Specific details are referred to the Catalogue of Tax-free New Energy Automobile.

Public Library Law comes into effect since January 1st in 2018. According to the law, there are 4 services provided for the public for free, including:

① Literature referring;

② Free admission to reading rooms and studies rooms;

③ Free admission to some reading activities such as public lectures, exhibitions and training programs;

④ Other free services regulated by the law. 

Referring to the Notice of 2018 Holidays Scheduling from General Office of the State Council and former policies on free highways during holidays, highways are  allowed to be passed for free in specific festivals:

① Spring Festival : from 00:00 on Feb. 15th ( Lunar New Year's Eve) to 24:00 on Feb. 21st (the sixth day of Lunar New Year).

② Tomb-Sweeping Day: from 00:00 on Apr. 5th to 24:00 on Apr. 7th.

③ Labor Day: from 00:00 on Apr. 29th to 24:00 on May. 1st.

④ National Day: from 00:00 on Oct. 1st to 24:00 of 24:00 on Oct. 7th.

Check the Notice of 2018 Holidays Scheduling below 

■ Attention! China's 2018 Public Holiday Schedule Just Came Out!

Tariff has been lowered since December 1st last year, and surprisingly, since the first day of this year, Chinese government continues to update the policy on tariff. For the sake of promoting B&R initiatives and building free trade zones, conventional tariff rates of import commodities will be applied to 26 countries or regions. Thereinto: 

① New free trade agreement between China and Georgia;

② Free trade agreement concerning lower tariff between China and ASEAN, Pakistan, Korea, Iceland, Switzerland, Costa Rica, Peru, Australia, New Zealand;

③ Continual free trade agreement between China and Singapore, Chile. The third round of Asia-Pacific Countries Trade Agreement (APTA) on tariff concession.

④ Closer Economic Partnership Arrangement (CEPA) between mainland China and Hongkong and Macao will expand coverage of tariff-free commodities. And the Economic Cooperation Framework Agreement (ECFA) still carries on.

Moreover, the third time of decreasing tariff for IT products will be in the beginning of July this year.

Promotion of Small and Medium-sized Enterprise comes to effect from the beginning of 2018, intending to offer national financial supports to small and medium-sized corporations.

Specifically 

① Preferential tax policy including taxes momentarily suspension, tax deduction, corporate tax and VAT exemption for small businesses will be implemented to simplify procedures of tax collection and management and lessen tax burdens of small enterprises. 

② Preferential policy to promote development of small enterprises and encourage business startup by derating fees collected from administrative operating expenses.

Specifically

① Local governments and related departments will offer free consulting or public information services covering industrial, commercial, tax, financial, environmental, safe producing, labouring and social securing services. 

② Colleges graduates, ex-servicemen, laid-off workers and physically disabled persons who have established small business can enjoy tax credits and fees deduction. 

③ Policy will be implemented to support investment for small and medium-size enterprises by social funds. Venture firms and private investors who invest newly established companies will enjoy preferential tax.

To encourage development of small and micro businesses, Notice of Continual Preferential VAT Policy for Small and Micro Businesses has been issued by the Ministry of Finance and State Tax Bureau. According to the notice, small-scale taxpayers, whose sales volumes are RMB20,000 to RMB30,000 each month, have access to VAT exemption from Jan. 1st in 2018 to Dec. 31st in 2020.