Home / Opinion / From the Press

Tax breaks for small business welcomed | Updated: 2013-07-29 20:49

Favorable tax policies for small businesses will boost the economy and employment, said an article in Beijing Youth Daily (excerpts below).

The State Council has decided to waive added-value and turnover tax for small businesses whose monthly revenue is less than 20,000 yuan ($3,258) from Aug 1.

It's estimated that this policy will benefit more than 6 million small businesses that employ tens of millions.

For years, small businesses have struggled due to currency appreciation, increasing labor costs as well as the difficulty of financing.

While this is a welcome step, more must be done to ensure that these enterprises continue to flourish.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349