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Shandong Introduces 17 Fiscal and Taxation Policies to Support Faster Economic Recovery

Source：The seanews 02-12-2023 13:32:47

On February 8, the Information Office of the People's Government of Shandong Province held a press conference to accelerate the pace of economic recovery and further boost the confidence of market entities. In total, 17 fiscal and taxation policies were announced, including providing support for recovery and consumption, expanding effective investment, and accelerating the development of market entities.

First, provide vigorous support for recovery and consumption. In the near future, the provincial government plans to raise 396 million yuan to support the introduction of incentives and subsidies to boost consumption in the fields of commercial distribution and cultural tourism, so as to better promote economic development. Second, strengthen support for expanding effective investment, further increase investment guidance, and provide well-targeted and strong support for key areas and weak links. Third, provide support for the accelerated development of market entities. The province will provide more assistance and benefits for enterprises and improve and implement tax and fee cuts. In particular, the tax cut policy is expected to further lessen the tax burden of relevant market entities by 15.75 billion yuan, guide enterprises to speed up production and unleash production capacity, and continuously consolidate the positive trend of the recovery of the industrial economy.