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In order to further support regular epidemic prevention and control measures, and help enterprises solve problems and promote development, China’s finance ministry and state administration of taxation posted the announcement that the implementation period of some tax preferential policies would be extended to December 31, 2021.
reference link：
http://www.chinatax.gov.cn/chinatax/n359/c5162489/content.html
ATTENTION
These tax preferential policies are closely related to corporate revenue and will expire at the end of the year. Enterprises can check whether these policies have something to do with you.
VAT: value-added tax
For VAT small-scale taxpayers, when the applicable levy rate of taxable gross income is 3%, the VAT will be levied at the rate of 1%; when the applicable levy rate of VAT prepayment is 3%, the VAT prepayment will be also levied at the rate of 1%.
Preferential Period:
Mar 1, 2020 to Dec 31, 2021
Reference Document:
Announcement No.7, 2021 of China's Finance Ministry and State Administration of Taxation
Q1
What is small-scale taxpayer?
Small-scale taxpayer is VAT taxpayer whose annual sales is below the prescribed standard, and it has imperfect accounting, which makes it fail to submit relevant tax information as required.
On March 5, 2021, Chinese Premier Li Keqiang pointed out in China’s 2021 Government Work Report that the VAT threshold for small-scale taxpayers would be raised from RMB100,000 to RMB150,000 on monthly sales.
VAT exemption policy:
Still valid next year!
Valid until December 31, 2022
Small-scale taxpayers with monthly sales not exceeding RMB150,000 (quarterly sales no more than RMB450,000) can enjoy VAT exemption.
Construction Fee of Cultural Undertakings
All enterprises are exempted from the construction fee of cultural undertakings.
Preferential Period:
Jan 1, 2020 to Dec 31, 2021
link:http://www.chinatax.gov.cn/chinatax/n810356/n3010387/c5163515/content.html
HACOS always pays attention to various policies and will update the information for our customers.
If you want more information, please contact our consultants or leave your message.
