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.
Related Posts
On 24 August 2023, China's Ministry of Finance, State Administration of Taxation, National Development and Reform Commission, and Ministry of Ecology and Environment have collaboratively issued Announcement No. 38 of 2023. According to this
Read More
On 10 April 2023, China's State Taxation Administration made an announcement regarding the nationwide launch of an online cross-border tax service for non-resident enterprises. This service allows overseas companies to conveniently pay their taxes
Read More On 24 March 2023, during an executive State Council meeting led by Premier Li Qiang, the State Council of China made an important announcement regarding the extension of supportive tax and fee policies. This includes the highly anticipated renewal
Read More On 1 September 2022, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force for China. With regard to the double taxation agreements between China and other
Read MoreFollowing the virtual BRICS summit held on 23 June 2022, the Beijing Declaration emphasised the need to cooperate to promote economic recovery. The BRICS group of emerging powers – Brazil, Russia, India, China and South Africa – has
Read MoreOn 25 May 2022, China has deposited its instrument of approval for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS Convention). China's instrument of approval also covers Hong
Read More
