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China Daily | Updated: 2015-08-21 08:05
Governments and policies
More small businesses offered tax breaks
The State Council has extended tax breaks to more small businesses in recognition of their role in generating jobs and growth, officials said. From Oct 1 to the end of 2017, companies with annual taxable income under 300,000 yuan ($46,900) will have their corporate tax halved, according to a statement released after a meeting chaired by Premier Li Keqiang. Tax breaks are also being made for companies with a monthly revenue under 30,000 yuan, which will be exempted from value-added tax and business tax until the end of 2017.
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