China’s State Council meeting on April 2, 2014 decided on a number of changes including more tax cuts for micro and small-sized enterprises. These enterprises are defined as businesses with an annual taxable income under RMB 60,000 (USD 9,650). The State Council is now considering raising the RMB 60,000 upper limit, and extending the tax cut for one further year until 31 December 2016. The changes are aimed at supporting China’s economic growth rate.
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