February 29 2020

Enterprises Can Negotiate with Employees to Suspend Contributions to Housing Provident Fund

Source: Announcement by State Administration of Taxation (SAT)

In order to support companies to resume production and operation and facilitate tax declarations by corporate taxpayers, the State Taxation Administration recently issued a circular to extend the deadline for tax declaration in February 2020 to the end of the month.

According to the circular, for taxpayers that make tax declarations on a monthly basis, except those based in Hubei province, the deadline for tax declaration will be further extended to February 28, 2020 (Friday). If taxpayers are still unable to declare tax before that date, they can give legitimate reasons to the tax bureau and make an application to defer tax declarations. The tax bureau will not impose surcharges for overdue tax payment, not impose administrative penalties and not adjust its tax credit rating.