Shandong rolls out tax breaks for provincial logistics industry
EASTERN China's Shandong province has launched series of preferential tax measures to boost development of the local logistics industry, Xinhua reports. Tuesday, 15.May.2012, 02:07 (GMT+3)
EASTERN China's Shandong province has launched series of preferential tax measures to boost development of the local logistics industry, Xinhua reports.
Shandong is to widen the coverage of the pilot scheme of "balance taxing of business tax" in the logistics industry, which aims to regulate tax administration and reduce business turnover tax on the warehousing, distribution and forwarding.
In addition, the province will reduce land using tax 50 per cent for logistics companies' owned land for warehousing use.
The province also encourages manufacturers to spin off their logistics business and set up individual logistics companies by exempting them from added value tax and business tax. The individual logistics company will get subsidy from the government for the additional part of their increased tax.
Besides, Shandong province will also launch other measures to boost technological innovation and application on the logistics industry.