June 1 2022

Shanghai Rolls out 50 Measures to Boost Economic Recovery

The Shanghai Municipal People's Government released on May 29, 2022 the Action Plan of Shanghai Municipality on Speeding up Economic Recovery and Revitalization, rolling out 50 measures. The Plan will come into force on June 1, 2022 and remain effective until the end of 2022.

Taxpayers in difficulty of paying property tax and urban land use tax due to impact of the Covid-19 can apply for reduction or exemption of the two taxes on self-used property and land for the second and third quarters of 2022, except for taxpayers in restricted or discouraged industries. Those enterprises whose property or land is requisitioned by the government for emergency are entitled to reduction or exemption of the related property tax and urban land use tax. Companies and social organizations are encouraged to ask travel agencies to conduct party building, official affairs, trade unions, and exhibitions activities on their behalf, and the travel agencies can issue invoices as reimbursement vouchers, said in the Plan.


Official Notice: