China ’s monthly sales of a monthly sales of 100,000 yuan (RMB and about S $ 19,700) this year are exempt from VAT with small VAT taxpayers.
According to the website of the Ministry of Finance of China, the Ministry of Finance and the State Administration of Taxation announced on Monday (January 9) the policies such as small -scale VAT taxpayers and VAT.
According to the announcement, from January 1st to December 31st this year, a small VAT taxpayer of VAT (including the number) of monthly sales is not levied on VAT.At the same time, a small value -added tax taxpayer applies for the 3%levy rate of taxable sales income to minimize the value -added tax at the 1%levy rate; the pre -paid value -added tax item with a 3%pre -levy rate is applied to the 1%pre -levy rate pre -levy ratePay the value -added tax.
In addition, the taxpayer of the productive service industry is allowed to reduce the taxable amount by 5%of the amount of input tax in accordance with the current period.The taxpayers of the living service industry are allowed to reduce the taxable tax in accordance with the current period of deductible input tax.
Value -added tax that should be reduced. If it has been levied before the announcement, the taxpayer shall be paid or refunded the taxpayer's tax period in the future.
