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BEIJING, May 3 (FAM) – In a bid to encourage the development of the country’s logistics industry, China will offer favorable tax terms to lower the cost of commodity storage for logistics firms, the Ministry of Finance said in a statement released Tuesday.

Tax rates on urban land use will be cut by half for logistics facilities that store commodities such as agricultural and mineral products. The term only applies to facilities that cover an area of 6,000 square meters or above, according to the statement.

 

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