SHANGHAI has drafted 28 measures that will help foster a better environment for doing business in the city and create an efficient way to pay taxes for corporations and individuals.
To better help newly-established companies, Shanghai Municipal Office of the State Administration of Taxation has introduced a “set menu” service for registration, which covers the most common issues facing start-ups, to save them time.
Another policy reduces the number of times that a company has to pay taxes, and an annual tax declaration will be applied to eligible small-scale taxpayers.
The authority is also enhancing the mutual recognition of tax related information by joining with other government departments in the city like the municipal human resources and social security bureau and the local accumulation fund management center.
“By carrying out the measures, we aim to provide a more competitive and convenient environment for companies and individuals in Shanghai,” Jiang Xutao, chief economist of the local taxation authority, said yesterday.