China offers perks to boost lending to small firms
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Beijing
CHINA will exempt banks' interest income from loans to small firms and rural households from value-added tax, authorities said on Monday, in the latest step to address a long-standing issue of lack of financing to small firms.
The policy will be in effect from Dec 1, 2017, to the end of 2019, the finance ministry and tax administration said, while contracts for loans with small firms will also be free of stamp taxes from 2018 to 2020.
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