Regarding non-taxable allowances - policy for IIT
The extension of the preferential policy for individual income tax regarding non-taxable allowances
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.
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.
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.
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.
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 - Regarding non-taxable allowances - policy for IIT
The extension of the preferential policy for individual income tax regarding non-taxable allowances
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.
May 2023 - Tax declarations requirements for related party transactions
Enterprises engaging in related party transactions need to be mindful of declarative obligations on this topic specifically.
In this letter, we summarize the types of related party transactions and the corresponding tax declarations requirements.
In this letter, we summarize the types of related party transactions and the corresponding tax declarations requirements.
April 2023 - Preferential policy on disabled fund is announced
The Ministry of Finance announced the extension of existing preferential policies on disabled fund for SMEs. We summarize down below key takeaways.
Should you have questions as to how these measures will impact you, please do not hesitate to reach out to your Mazars contact.
Should you have questions as to how these measures will impact you, please do not hesitate to reach out to your Mazars contact.
Jan 2023 - CIT preferential policies for SMEs
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.
We summarize down below key takeaways.
Jan 2023 - Tax preferential policies are announced for 2023
On 9 January 2023, the State Administration of Taxation (SAT) announced tax preferential policies for 2023. We summarize down below key takeaways.
