The State Administration of Taxation and the Ministry of Finance issued an announcement clarifying that the payment of some taxes and fees will continue to be deferred for small, medium and micro enterprises in the manufacturing industry in the fourth quarter of 2021 as well as the first and second quarters of 2022. The Qinzhou tax bureau is stepping up efforts to implement the policy.

"In the fourth quarter of last year, we deferred tax payments worth more than 1.02 million yuan ($160,123). This year's extension of the deferred payment policy is very timely. After the introduction of the policy, the value-added tax and additional taxes and surcharges deferred for enterprises in the first two months of 2022 will total about 220,000 yuan," said a staff member of Qinzhou Linhai Concrete.

At the beginning of 2022, large demands for funds and slow payment collection have been common problems for small, medium and micro-enterprises. The continuation of several tax deferral policies has brought stronger and more tangible support to small, medium and micro enterprises.

A staff member at the Qinzhou tax bureau helps an enterprise employee. [Photo/WeChat account: zmqqzgpq]