National Standing Committee: Exemption from urban land use tax on urban bus stations and other operational land

On January 19, Li Keqiang chaired an executive meeting of the State Council.

The meeting pointed out that it was decided to continue to implement some of the expired tax and fee reduction policies to support the relief and development of enterprises.

The meeting decided to extend 11 preferential tax policies involving technology, employment and entrepreneurship, medical care, education, etc. until the end of 2023, on the basis of the extension of some expired tax preferential policies in the previous period.

First, qualified technology business incubators, university science parks and maker space incubation services are exempt from VAT.

The second is to exempt agricultural product wholesale markets, farmers’ markets from property tax and urban land use tax. Exemption from urban land use tax on operational land such as urban bus stations.

The third is to continue to authorize provincial governments to decide independently to exempt, suspend or reduce taxes on local reservoir immigration support funds. The fourth is to exempt medical personnel and epidemic prevention workers from personal income tax on temporary subsidies, bonuses, and preventive medicines and other physical items issued to individuals by units. The fifth is to exempt university student apartments from property tax and related lease contract stamp taxes.

(CCTV)