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CHINA PRESS: Enterprises focusing on cutting overcapacity are to be exempted
from the land use tax and property tax when they suspend operations for
restructuring, according to the new rule released by the Ministry of Finance and
the State Administration of Taxation on Monday, Xinhua News reported.
- The new regulation is in line with the country's supply-side reforms through
industrial transformation, which aims to encourage companies to upgrade their
- These companies are not allowed to enjoy the tax exemption policy for more
than two years, as it will take effect from the beginning of October till the
end of 2020.