The latest tax preferential policy!

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In order to further support the development of small and micro enterprises and individual industrial and commercial households, the State Administration of Taxation updated the announcement on August 1, which is the continuation of the VAT reduction and exemption policy for small-scale taxpayers on January 9, 2023.

New Continuation:

1

Small scale VAT tax payers, with monthly income which less than 100,000 rmb shall continue to be exempt from VAT tax.

2

The VAT tax will be continued as 1% rather than 3% for small scale tax payers.

3

For small scale VAT tax payers and small low-profit enterprises, additional taxes and stamp duties are halved.

4

Enterprise income tax is levied at 5% for small and micro enterprises with an annual profit of less than 3 million.

* This tax policy shall be effect in the next 4 years.

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