Urban Land Use Tax for Bulk Commodity Storage Facilities

On March 27, the Ministry of Finance and the State Administration of Taxation issued an announcement that from January 1, 2023 to December 31, 2027, the land for bulk commodity storage facilities owned (including self-use and leased) or leased by logistics companies, Urban land use tax is calculated and levied at a reduced rate of 50% of the applicable tax standard for the land class to which it belongs.