China Taxation - Two new tax deductions related to the 2022 tax year and updated Income Tax Policies for Small and Micro Enterprises and Self-Employed Entrepreneurs.

The executive meeting of the State Council held on March 24th decided to continue and optimize some temporary preferential tax policies to further support the development of Small and Micro Enterprises (SME) and individual entrepreneurs.

As a continuation in encouraging the healthy growth of the logistics sector, the Ministry of Finance and the State Administration of Taxation announced the following policies for land utilized by logistics firms for bulk commodities storage facilities.