Three Favorable Policies Newly Released

David Ho   |   February 25, 2020

Original post: Valueplus Consulting


Today, we will share three favorable policies newly released by Chinese authorities which will help enterprises to tide over the difficulties caused by the epidemic. Take a look!

● 减免企业社保费 

Corporate Social Insurance Premiums Can be Reduced or Exempted.

● 企业缓缴住房公积金

Housing Fund Payment Can be Deferred.

● 纳税申报期限进一步延至2月28日

Tax Declaration Can be Deferred until February 28th.

1.  减免企业社保费

Corporate Social Insurance Premiums Can be Reduced or Exempted.


It is decided to periodically reduce or exempt the corporate social insurance premiums including pension, unemployment, and work injury to alleviate the epidemic’s impact on enterprises, especially small and medium-sized enterprises(SMEs).


In all provinces except Hubei, Micro, Small and Medium Enterprises (MSMEs) can be exempted from the above three expenses from February to June, and large enterprises can be exempted from 50% of the expenses from February to April. 

2. 企业缓缴住房公积金Housing Fund Payment Can be Deferred.


Before the end of June, enterprises can apply for deferred payment of housing fund.


During this period, employees who are unable to repay the housing fund loan on time due to the epidemic will not be regarded as overdue.

3. 纳税申报期


Tax Declaration Can be Deferred to February 28th.


Taxpayers who are affected by the epidemic to be not able to handle tax declaration and apply for deferred declaration till February 28th, can timely process the deferment application together with tax declaration after submitting a written statement to the tax authorities.


According to the laws, tax authorities will not impose on such enterprises penalties including overdue fine, administrative penalties, degradation of tax credits and abnormal taxpayers identifying.


Taxpayers are responsible for the authenticity of their written statements.

● 政策来源 Official Resources 


Li Keqiang Explains the Series of Major Favorable Policies of the State Council: Helping Enterprises to Overcome difficulties

国家税务总局关于进一步延长2020年2月份纳税申报期限有关事项的通知Notice of the State Administration of Taxation on Matters Relating to Further Deferment of the Tax Declaration in February 2020