Latest Headlines
China extends tax reduction, lending support for micro, small firms
  ·  2023-08-03  ·   Source: Xinhua News Agency

China has decided to extend several favorable measures, including lending support and tax reduction, for micro and small firms to boost their growth.

Taxpayers with monthly sales revenue of no more than 100,000 yuan (about $14,000) will continue to be exempt from value-added tax, according to statements jointly released by the Ministry of Finance and the State Taxation Administration on July 2.

Meanwhile, for micro and small firms and self-employed households that currently enjoy a 1 percent favorable value-added tax rate, reduced from 3 percent, the policy will remain in effect.

Relevant financial support will also be maintained. Lender income stemming from loan interest and guarantee fees related to such small business entities will remain free from value-added tax, and their loan contracts will continue to be exempt from stamp duty.

All the policies mentioned above will be effective until the end of 2027, the statements said.


China Focus
Special Reports
About Us
Contact Us
Advertise with Us
Partners:   |   China Today   |   China Hoy   |   China Pictorial   |   People's Daily Online   |   Women of China   |   Xinhua News Agency
China Daily   |   CGTN   |   China Tibet Online   |   China Radio International   |   Global Times   |   Qiushi Journal
Copyright Beijing Review All rights reserved 京ICP备08005356号 京公网安备110102005860