27/04/2020
BEIJING, April 26 (Xinhua) — China announced Sunday to extend tax exemptions by an additional four years to further improve the inclusive finance service for smaller businesses.
The tax exemptions, which expired at the end of last year, will be extended to Dec. 31, 2023, according to a statement jointly issued by the Ministry of Finance and State Taxation Administration.
In order to boost policy support and encourage financial institutions to step up financial services, Chinese authorities decided in 2017 that financial institutions will be exempt from value-added taxes (VAT) on income from interests for loans to small and micro-sized businesses and individually-owned businesses.
The joint statement also said the VAT, which was already collected but eligible to be waived, can be deducted in subsequent months or refunded.
Source: Xinhua
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21/09/2019
- Iranian news outlet quotes military official as saying exercise will be held soon, but Chinese media silent on reported manoeuvres
An Iranian news source says China, Russia and Iran are planning a joint naval exercise soon. Photo: Xinhua
China, Russia and Iran are planning a joint naval drill in the Sea of Oman and northern Indian Ocean “soon” a semi-official Iranian news outlet reported on Saturday, just days after the United States
blamed Iran for a drone attack on Saudi Arabian oil facilities.
General Ghadir Nezami Pour, head of international affairs and defence diplomacy of the Iranian Armed Forces General Staff, said the drill would take place in international waters, Iran Press news agency reported.
“The exercises have different goals including the exchange of tactical and military experiences and sometimes they seek political goals which show a kind of convergence between participants,” he was quoted as saying.
“Officials at the level of defence minister, chief of staff of the armed forces and commanders of the armed forces will come to Iran in the near future and these actions reflect Iran’s active defence diplomacy.”
The comments came in the aftermath of the September 14 missile strikes on Saudi Arabia’s Abqaiq and Khurais oil facilities.
Washington accused Tehran of masterminding the attacks, allegations that Iran denied.
Tehran warned that any military action by the United States or Saudi Arabia would result in “all-out war”.
US Secretary of State Mike Pompeo initially condemned the attacks on the oil facilities as an “act of war” but later said the US was seeking a peaceful solution to the crisis.
On Friday, Chinese President Xi Jinping condemned the attacks during a phone conversation with Saudi Arabia’s King Salman, adding that he hoped the incident would receive a full and fair investigation.
There was no report of the joint drill plan in Chinese media.
Analysts said the exercise was possible as China might want to show support for Iran.
“The timing of the joint exercise might be a bit sensitive and some might take it as a show of China’s support for Iran should there be any military conflicts between countries,” Beijing-based naval expert Li Jie said.
“But it might well be a regular military exchange between the countries if it is held in international waters and without targeting another country.”
China calls for calm in aftermath of drone strikes on Saudi oil facilities
Ni Lexiong, a military specialist and professor at Shanghai University of Political Science and Law, said the drill was to send the message that China would side with Iran “in extreme scenarios”.
“I don’t see things will go that far, but the navy drill is to send the intimidating message,” Ni said.
Two years ago China and Iran conducted a joint naval exercise near the Strait of Hormuz in the Persian Gulf after Washington accused Tehran of sending fast attack boats to harass US warships passing through the area.
Major General Mohammad Baqeri, Chief of Staff of the Iranian Armed Forces, was in Beijing for a three-day visit earlier this month and agreed that the two countries would have more visits with senior military officials and advance cooperation in training.
China still accounts for more than half of Iran’s oil exports, according to the United States, complicating Washington’s efforts to economically isolate Tehran in its “maximum pressure campaign”.
Source: SCMP
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