corporate income tax policies

CHINA REVAMPING INCENTIVES TO FOSTER SMALL PROFIT BUSINESSES

In China, small businesses hold the majority among the total number of enterprises in China. Considering the small businesses as one of the driving factors for the Chinese economy, the PRC government has decided to offer them some preferential income tax rates and VAT exemption which is subject to a certain qualifications as discussed in this newsletter. This is expected to ease off their tax burden to a certain extent allowing them to save more cost, thus, make more margin.

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