To further reduce the burden of family rearing children and elderly support expenses, the State Administration of Taxation (SAT) announced the tax relief policy for individual income tax (“IIT”) aiming at raising some specific itemized deductions standards for Individual Income Tax, according to a State Council circular issued on 31 August 2023.
To further support the development of small and micro enterprise(SMEs), the State Administration of Taxation (SAT) announced the tax preferential policies for SMEs aiming at Corporate Income Tax (CIT) rate and “Six taxes, two fees” will be extended to December 31st, 2027.
To further support the innovative development of enterprises and reduce the burden of taxpayers, the State Administration of Taxation (SAT) announced that the tax preferential policy for individual income tax(“IIT”) aiming at the equity incentives and annual bonuses will be extended to December 31st, 2027.
On 1 August 2023, the State Administration of Taxation (SAT) announced the tax preferential policy for VAT small taxpayers aiming at the VAT rate will be extended to December 31st, 2027.
Sep 2023 - The extension of the preferential policy for SMEs
To further support the development of small and micro enterprise(SMEs), the State Administration of Taxation (SAT) announced the tax preferential policies for SMEs aiming at Corporate Income Tax (CIT) rate and “Six taxes, two fees” will be extended to December 31st, 2027.
Sep 2023 - Raise specific itemized deductions standards for IIT
To further reduce the burden of family rearing children and elderly support expenses, the State Administration of Taxation (SAT) announced the tax relief policy for individual income tax (“IIT”) aiming at raising some specific itemized deductions standards for Individual Income Tax, according to a State Council circular issued on 31 August 2023.
Aug 2023 - The preferential policy for VAT small taxpayers
On 1 August 2023, the State Administration of Taxation (SAT) announced the tax preferential policy for VAT small taxpayers aiming at the VAT rate will be extended to December 31st, 2027.
Aug 2023 - The extension of the preferential policy for IIT
To further support the innovative development of enterprises and reduce the burden of taxpayers, the State Administration of Taxation (SAT) announced that the tax preferential policy for individual income tax(“IIT”) aiming at the equity incentives and annual bonuses will be extended to December 31st, 2027.
We wish to remind you that the small and micro enterprises (SMEs) with annual taxable income below CNY 3M shall be taxed at a preferential Corporate Income Tax (CIT) rate, we summarize hereafter the main measures for your information.
Jan 2023 - The extension of the preferential policy for individual income tax
On 16 January 2023, the State Administration of Taxation (SAT) announced the tax preferential policy for individual income tax aiming at the equity incentives will be extended to December 31st, 2023. We summarize down below key takeaways.