China will exempt the value-added tax for.....>

CHINA: China will exempt the value-added tax for small-scale taxpayers in Hubei

province, the epicentre of the coronavirus outbreak, and lower the tax rate to

1% from 3% in other regions from March to May, according to a government

statement. The announcement on gov.cn cited the State Council executive meeting

late Tuesday, and said China would also add CNY500 billion in refinancing and

through rediscount quotas, mainly to increase small and medium banks' credit

support for small firms. Policy banks would increase CNY350 billion of special

credit lines, which would be issued to private and small companies at

preferential interest rates, according to the statement.