Government Work Report 2018: Expanding the Preferential Tax Scope of Warehousing Land for Logistics Enterprises

On March 5, the government work report of 2018 was released to the outside world, which mentioned the further reduction of enterprise tax burden. Reform and improve VAT, adjust tax rates according to the direction of three-tier and two-tier, focus on reducing tax rates in manufacturing, transportation and other industries, and improve the annual sales standards of small-scale taxpayers. The scope of small and micro enterprises enjoying the preferential policy of reducing income tax by half has been greatly expanded.

The maximum pre-tax deduction limit for newly purchased instruments and equipment has been raised substantially. We will implement a comprehensive policy of offshore income credits for enterprises. Expanding the scope of tax incentives for warehousing land of logistics enterprises. We will continue to implement preferential policies on land value-added tax and deed tax for enterprise restructuring. Over 800 billion yuan of tax cuts will be made for enterprises and individuals throughout the year to promote the transformation and upgrading of the real economy and to stimulate market vitality and social creativity.