Before the end of the year in China, the small -scale taxpayer will be exempted from t

The four departments of the National Development and Reform Commission of China issued a notice that the monthly sales of a small -scale taxpayer will be exempt from VAT by small -scale taxpayers with a monthly sales of 100,000 (RMB and S $ 18,700).

According to the website of the China National Development and Reform Commission on June 13, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Finance, and the People's Bank of China issued a notice on the key work of the 2023 reduction cost.

The notice proposed the accuracy and pertinence of enhancing preferential taxes, improving the quality and efficiency of financial services for the real economy, continuously reducing institutional transaction costs, alleviating the pressure of corporate costs, reducing the cost of corporate land raw materials, promoting advancementLogistics quality improvement cost reduction, improving corporate capital turnover efficiency, inspiring enterprise internal excavation and other requirements.

In terms of the accuracy and pertinence of enhanced tax and fee preferential policies, the notice requires that before the end of the year, a small -scale taxpayer with a monthly sales of less than 100,000 will levy VAT for small -scale taxpayers.The taxable sales income of%levy rate is reduced by 1%of the value -added tax, and taxpayers of the production and living service industries are deducted by 5%and 10%VAT, respectively.

In addition, before the end of next year, the annual taxable income of small micro -profit enterprises at an annual taxable income of not exceeding 1 million yuan is reduced by 25%into taxable income, and the corporate income tax will be paid at a tax rate of 20%;The annual taxable income of individual industrial and commercial households does not exceed 1 million yuan, and personal income tax is levied by half on the basis of current preferential policies.

Notice also requires support policies such as taxation, first (set) insurance compensation, and promoting the transformation and upgrading of traditional industries and the development of strategic emerging industries.For scientific and technological innovation and key industrial chain, the targeted tax reduction policy has been introduced to increase the policy of increasing the proportion of the previous tax deduction of enterprises in accordance with the period of taxation in accordance with 75%to 100%.