alf a year, on subsistence allowances or recent graduates from higher educational institutions.
The decision allows provincial-level governments to raise tax relief by 20 percent at most, depending on the needs of the region.
Companies who have hired the needy and paid social insurances for them can also en
joy tax deductions to the tune of 6,000 yuan per person a year for three years.
Local governments at provincial levels can lift tax relief by 30 percent at most according to local conditions.
The tax deduction mainly covers value-added tax, urban maintenance and constru
ction tax, educational surcharge and individual income tax and will be effective from Jan. 1, 2019 to Dec. 31, 2021.
A separate statement, which was jointly issued Saturday by the Ministry of Finance, the State Taxation Administration and the Ministry of Vete
rans, said that self-employed veterans can also enjoy all the preferential treatments.
Companies who have hired veterans can also enjoy tax deduction to the tune of 6,000 yuan per person a year for three ye
ars. Local governments at provincial levels can lift tax relief by 50 percent at most according to local conditions.