Happy Buy Receives Policy Granting 80% Tax Rebates From Local Government
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NANPING, China, Dec. 16, 2020 /PRNewswire/ Happiness Biotech Group Limited (the Company orNasdaq: HAPP), an innovative China-based nutraceutical and dietary supplements producer, announced today that Happy Buy, the Company s wholly-owned subsidiary focusing on e-commerce business, received preferential tax policies from the local government, according to which, 80% of the local value-added tax and the local corporate income tax will be returned to the company as a reward.
Shunchang County Government in Fujian Province, China, has formulated a series of supporting policies to local companies in order to promote the development of technology industries. As a result, given that Happy Buy had e-commerce sales of over US $3 million since November, 2020 and considered a business with significant contribution and sustainable growth, Shunchang County Govern