On 9th January, the executive meeting of the State Council decided to introduce a series of preferential tax reduction measures for small and micro enterprises (SMEs). The standard of SMEs that can enjoy the preferential income tax of enterprises has been greatly relaxed. At the same time, the preferential income tax has been strengthened. For those SMEs whose annual taxable income does not exceed 1 million yuan, 1 million yuan to 3 million yuan, and the tax burden has been reduced to 5% and 10% by reducing the tax payable income by 25% and 50% respectively. After adjustment, preferential policiesRead More →
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