Beijing customs exempt enterprises from 6m yuan overdue fine

BEIJING -- Beijing customs have exempted enterprises from overdue fines of nearly 6 million yuan (about $907,800) in order to ease financial difficulties during the COVID-19 epidemic in 2020, data from Beijing customs showed.

In the first half of this year, affected by the epidemic, Chinese companies faced difficulties in operation and capital turnover.

To relieve the pressure on enterprises, Beijing customs introduced a policy that allows enterprises to delay paying taxes for up to three months. At the same time, the corresponding overdue fine would be exempted.

Beijing customs have handled more than 200 million yuan of deferred tax payments for enterprises so far this year, according to the data.