5 Important Fee Changes that Will Save You Money
20 Nov 2017
The Chinese Government last month announced new preferential policies that have abolished certain fees that we've been paying. Depending how much you use services in China, these many bring substantial savings.
1. When buying train tickets for trains not departing from the local train station, there was a 5 rmb fee for each ticket, but since October 1st, this fee has been cancelled. Additionally, the tiered ticket refund policy has been adjusted so that if you need to refund a ticket up to 15 days before departure, you can get a full refund.
2. The State Council Executive Meeting on Oct 30 decided to abolish the business tax, which has been in force for over 60 years. Business tax is a tax imposed by government aimed at those who give taxable services, transfer of intangibles and sale of property. It is a tax payable against turnover by all enterprises and individuals undertaking the following business activities: providing taxable services, including communication, transport, construction, finance and insurance, telecom, culture, entertainment and service industries; transferring the provision of intangible assets; and selling immovable properties.
Additionally, Small and micro-sized enterprises, with monthly sales of 20,000 to 30,000 yuan ($3,050-$4,575), will be exempted from value-added tax from the beginning of next year until the end of 2020.
3. China's top three mobile phone service companies, China Mobile, China Telecom and China Unicom have announced that their domestic roaming charges will be cancelled from October 1st of this year. So no more worrying about extra fees when you're travelling around China.
4. Many airlines have cancelled fuel surcharge. Passengers flying on domestic flights will now only pay 50 rmb per domestic trip or 90 for international trips for the Civil Aviation Development Fund, which replaces the airport construction fee and Civil Aviation Infrastructure Construction Fund.
5. Banks have cancelled their Annual commission and Petty account management charges for debit cards (credit cards are not included). These fees are not cancelled automatically; however. You have to take your ID card to your branch to apply for this waiver. This fee cancellation applies only to only one card per issued bank. Additionally, there are no longer fees for cash deposited, withdrawn and or transferred in other cities.
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