Tax, fee incentives a shot in the arm for economy

BEIJING: China has ramped up its tax and fee incentives and supporting policies to enterprises, a move that has not only offered a “timely rain” to companies in financial drought but also served as a shot in the arm for the economy.

Official data from the state taxation administration showed that China’s tax refunds as well as tax and fee cuts and deferrals had exceeded 3.4 trillion yuan (RM2.2 trillion) by Sept 20.