Beijing announces tax reduction for Taiwan's cross-strait flights

CHINA's Ministry of Finance (MOF) has announced that Taiwanese airlines can enjoy a tax allowance on business and income generated from Taiwan's direct flights to China, reported Xinhua.

The exemption is retroactive to June 25, 2009, according to a joint statement issued by the Chinese MOF and the State Administration of Taxation.

Taiwanese airlines that have paid business tax on cross-strait direct flights from June 25, 2009 will receive a reduction in their total business revenue taxes, and those paid in income tax will then receive a refund in 2010.
(Source:www.schednet.com)