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Preferential Tax Policies to Help Disabled

China is going to adjust its tax policies in order to help the disabled to find jobs easily. The new tax policies will start to take effect from July 1. The adjusted new tax policies will cover all kinds of enterprises, including private firms and foreign-funded enterprises.

There are about 83 million disabled people in China. Although their conditions have been greatly improved, in many aspects, their conditions still lag behind the average level in society. Related survey shows that most disabled persons earn low family income and live in a poor condition.

After China adjusts its tax policies, companies that hire disabled persons will enjoy a set of preferential treatment in terms of the turnover tax and corporate income tax, an official at the State Administration of Taxation told this reporter on Tuesday.

In terms of the turnover tax, companies that hire disabled persons will get some refund in value-added tax or pay less business tax. The amount of tax deducted will be equal to six times the minimum income set for a specific region.

In terms of the business tax, the salaries that companies pay to the disabled persons will be included after the income tax is deducted.

If the companies do not buy social security funds for their disabled employees, they might not be able to enjoy many of the above tax preferential treatment, the official said.

( June 21, 2007)

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