- The Ministry of Finance and the State Administration of Taxation have announced the continuation of the value-added tax policy for agricultural loans of the Agricultural Finance Department of China Postal Savings Bank.
- The policy applies to the county-level branches under the Agricultural Finance Department of China Postal Savings Bank in various provinces, autonomous regions, municipalities directly under the central government, and separately listed cities.
- The policy allows these branches to choose the simplified tax calculation method and pay a 3% tax rate on the interest income from loans provided to farmers, rural enterprises, and various rural organizations.
- The specific list of loan businesses eligible for this policy can be found in the attached document.
Source: lexiscn.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
