Headlines from China: New Tax Policies to Support Film-Related Businesses

New Tax Policies to Support Film-Related Businesses

Ministry of Finance and China Film Administration announced on Thursday that the value-added tax and other related fees will be temporarily waived in order to alleviate film businesses’ financial burdens. Film screening service providers will enjoy an exemption of VAT for the entire year of 2020, according to a statement issued by the Ministry of Finance and the State Administration of Taxation. The authorities have also suspended the collection of construction fees for cultural undertakings for the same period. Read more on yiqipaidianying

Qingdao West Coast New Area Announced Eight Industrial Policies to Attract Film Businesses

Qingdao West Coast New Area, home of the Wanda-invested Oriental Movie Metropolis, announced eight new policies to facilitate the development of film businesses in its region. As one of the hardest hit industry worldwide, film businesses based in Qingdao were also experiencing difficulties to reopen this year. This newly constructed long-term industry development plan, was not only aimed at supporting film businesses to get through the hard time, but it also plans to attract more businesses to relocate to Qingdao, in which way to help Oriental Movie Metropolis become an industry powerhouse. Read more zhipianquan