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Announcement of the the Ministry of Finance and the State Administration of Taxation on Value-added Tax Policy Supporting the Reinstatement Work of Small Household Businesses.

Country/Territory
China
Document type
Miscellaneous
Date
2020
Source
FAO, FAOLEX
Subject
Agricultural & rural development, Food & nutrition, General
Keyword
Public health International trade Internal trade Transport/storage Registration Fiscal and market measures Agricultural commodities Aquaculture Food security Processing/handling
Geographical area
Asia, Asia and the Pacific, East Asian Seas, Eastern Asia, North Pacific, North-West Pacific
Abstract

In order to support the small household business in the prevention and control of the new crown pneumonia epidemic and to speed up work and resume business, the Ministry of Finance and the State Administration of Taxation issue a special policy that: From March 1, 2020 to May 31, 2020, small taxpayers in Hubei province will be exempted from VAT if their tax rate is set at 3 percent. Small taxpayers in other regions will pay a lower tax rate of 1 percent on taxable sales revenue if their VAT rate is set at 3 percent.

Full text
Chinese
Website
szs.mof.gov.cn