Small and micro businesses Corporate income tax The corporate income tax rate was reduced from 10 percent to 5 percent for small and micro-businesses. The tax rate is applied to the profit portion from 1 million RMB to 3 million RMB. Reduction and exemption of six taxes and two fees Six taxes and two fees…
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Recently, small and micro China enterprises saw preferential tax relief under the promulgation of the Notice on Implementing the Policy of Inclusive Tax Relief for Small Profit Enterprises Circular, Caishui No. 13 [2019] (Circular 13). What’s more, provisions in Circular 13 further exempt small-scale taxpayers from value-added taxes, provided their monthly sales fall below RMB…
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