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China Cuts Taxes to Support Quake Relief



According to the State Tax Administration, losses due to the earthquake, for both companies and individuals, can be deducted from tax returns. Supplies donated by other countries, individuals and companies will be exempt from import tax. People who paid tax on cars or ships that were destroyed in the quake can apply for a tax refund until the end of this year. Victims can also apply for a reduction or exemption from land use taxes. A deed tax on the purchase of a new home will also be cut or waved for earthquake victims. Charitable donations to earthquake-stricken areas will be tax free depending on the amount.