Government measures in key jurisdictions 5th edition - Flipbook - Page 38
China
Company
law matters
•
On May 29, 2020, the State Taxation Administration announced a policy that will
allow small enterprises (as defined in the State Administration of Taxation
Announcement [2019] No. 2) and businesses owned by individuals to delay payment
of income tax for the time period from May 1, 2020 to December 31, 2020 until 2021.
•
On July 2, 2020, the State Taxation Administration announced Guidelines of
Preferential Tax Policies to Support Epidemic Control and Development of the
Economy and Society (3.0), which consolidates and updates all the relevant
preferential tax policies.
•
In 2021, some local governments have extended certain preferential tax policies. For
instance, enterprises in industries such as entertainment, transportation, and tourism
as well as certain micro and small-sized enterprises in Zhejiang Province do not have
to pay property tax and urban land use tax for property and land in use by these
enterprises in the first quarter of 2021 and pay 50% property tax and urban land use
tax in the second quarter of 2021.
•
Since the outbreak of Covid-19, China’s provinces, autonomous regions and
province-level municipalities have successively launched public health emergency
plans in their respective administrative regions and taken actions to contain Covid19. Local governments in regions such as Zhejiang, Gansu, Anhui and Shanghai
have set out requirements that enterprises should prepare emergency plans for the
prevention and control of Covid-19 in the form of notices on the prevention and
control of Covid-19 and the resumption of work. Some notices have emphasized
that the responsible person in the enterprise should lead the preparation work
personally.
•
There are various factors to consider in drafting an emergency plan, namely, (i)
regulatory requirements may differ depending on different regions (for instance,
we have noticed that some local governments have publicized templates of the
emergency plans specifically for enterprises’ use, while other local governments
have not), (ii) regulatory requirements may vary among different industries, and (iii)
business features and characteristics may differ among enterprises.
•
For enterprises that are resuming operations: how to prepare an emergency plan
for the prevention and control of Novel Coronavirus Pneumonia.
Have any measures
been put in place
to accommodate
social distancing
(such as remote
general meetings)?
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Government measures in key jurisdictions
