Levy standards of multiple government funds lowered to promote development of real economy


On May 9th, it was learnt from Department of Finance of Guangxi Zhuang Autonomous Region that in order to further reduce the burden of enterprises and promote the development of the real economy, the department recently issued a notice to reduce the upper limit of the levy standard of the employment security for the disabled and the levy standard of the funds for major water conservancy projects in Guangxi.

The notice said that since April 1st this year, Guangxi has lowered the standard ceiling for average wage for disabled persons from 3 times to 2 times. In addition, since July 1st this year, on the basis of the "Notice on Reducing the Standard of the Funds for Major Water Conservancy Projects in Guangxi” to reduce by 25%, Guangxi will further reduce the standard for the funds of major water conservancy projects by another 25%.

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