The Ministry of Finance and the State Administration of Taxation (SAT) has jointly issued an announcement that tax breaks to increase employment are to be extended until 31 December 2016. The tax relief applies to companies that increase employment and to individuals creating their own business. These tax breaks are now to extend to all business sectors and all types of employee. A new business that is set up by new graduates or unemployed workers qualifies for a tax deduction of RMB 9,600 and companies creating new employment that will continue for more than one year qualify for a tax reduction amounting to RMB 5,200 for each job created.
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