China Extends Financial Inclusion Tax Benefits to the End of 2023


China’s Ministry of Finance (MOF) has announced the extension of tax benefits in relation to financial inclusion measures for another three years.

On 20 April MOF issued the “Public Announcement on Extension of the Implementation of Tax Benefit Policies in Relation to Financial Inclusion” (财政部、税务总局发布关于延续实施普惠金融有关税收优惠政策的公告).

The Announcement outlines the extension of a slew of financial inclusion tax benefits first launched in 2017 until 31 December 2023.

These policies include:

  1. “The Notice Concerning Tax Policies in Relation to Continuing Support of Rural Village Financial Development” (财政部税务总局关于延续支持农村金融发展有关税收政策的通知) (Caishui [2017] no. 44);
  2. “The Notice Concerning Tax Policies in Relation to Micro-loan Companies” (财政部税务总局关于小额贷款公司有关税收政策的通知) (Caishui [2017] no. 48);
  3. “The Notice Concerning Tax Policies in Relation to Supporting Micro and Small Enterprise Finance” (财政部税务总局关于支持小微企业融资有关税收政策的通知) (Caishui [2017] no. 77);
  4. “The Notice Concerning Value-added Tax Policies Such as Input Tax Deductions for Leased Fixed Assets” (财政部税务总局关于租入固定资产进项税额抵扣等增值税政策的通知) (Caishui [2017] no. 90).

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